In a new version of the transfer pricing strategy, Tom Sandell virtually relocated his hedge fund from New York to Florida to avoid NY tax liabilities on his deferred comp.
The story didn’t finish well. A whistleblower and the NY AG forced him to cough up $105m.
Guggenheim had restrictive language against whistleblowing in its compliance manual. The SEC reviewed the manual and fined the firm $209,000 – before any whistleblower was silenced.
The message is clear; the SEC will not tolerate any whistleblower muzzle.
The risk manager who blew the whistle on Deutsche’s Libor manipulation is entitled to a $100m award.
That’s a problem. It would empty the coffer for the entire program, and block other actions.
Jordan A. Thomas, the former whistleblower program manager at the SEC, as well as a leading plaintiff attorney, is suing the SEC for changes to the program.
This article explains what the SEC whistleblowing program is, why it is so successful, and why you should consider it if you see fraud or crime.
The Corporate Transparency Act, enacted in the Defense Appropriation bill of January 2021, is a game-changer for financial investigators. It prevents bad actors from hiding behind anonymous shell companies – right here in the United States.
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