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recession 4 articles

Internal whistleblowers protected by Dodd-Frank, Massachusetts federal court rules

A federal judge in Massachusetts has ruled that whistleblowers who report fraud and other wrongdoing within their company are protected under the 2010 Dodd-Frank Act, adding to a growing list of U.S. District Court judges who have made similar rulings. The pro-whistleblower rulings contradict the interpretation of a circuit court ruling earlier this year. According to the Wall Street Journal, the Massachusetts District Court judge issued an opinion Wednesday that “rejected the argument that Richard Ellington, a former employee of New England Investment and Retirement Group Inc., was ineligible for protection from retaliation under Dodd-Frank because he did not report ... Read More

Commodity Futures regulators urge judge to protect whistleblower’s identity after leak

Lawyers for the Commodity Futures Trading Commission (CFTC) are urging a judge to intervene in its whistleblower lawsuit against London-based Arcadia Petroleum and its affiliates after they accidentally failed to conceal the name of the informant’s lawyer in court documents. According to the Financial Times, the CFTC’s lawyers fear the error, which allowed the defense to identify and subpoena the whistleblower’s lawyer, could jeopardize the agency’s whistleblower program by scaring potential, future informants away. The CFTC’s whistleblower program has become one of the agency’s best weapons in the fight against commodities fraud since it was created by the Dodd-Frank Act ... Read More

SEC awards whistleblower $14 million for exposing financial fraud

A whistleblower who provided information to the U.S. Securities and Exchange Commission (SEC) that helped federal regulators recover millions of dollars in investor funds was awarded $14 million, the largest award made by the SEC’s whistleblower program to date. SEC officials said that the whistleblower, who wants to remain anonymous in media reports, provided original information and assistance that allowed the agency to investigate a case of financial fraud more quickly than otherwise would have been possible. “Less than six months after receiving the whistleblower’s tip, the SEC was able to bring an enforcement action against the perpetrators and secure ... Read More

Commercial trucking industry’s safety record has improved dramatically

According to the National Highway Traffic Safety Administration, the number of deadly truck crashes declined 20 percent last year, dropping from 4,245 in 2008 to 3,380 in 2009. The drop in commercial trucking fatalities puts them at their lowest level in the Transportation Department’s history, but what is responsible for the sudden spike in safety? According to some industry analysts, the economic slowdown and drops in consumer demand translate to fewer commercial motor vehicles on the road and fewer miles driven. In turn, fewer trucks amounted to a statistical drop in the number of accidents involving trucks. But just how ... Read More