Blockchain Proof of Concept Effort Will Go On Credit Suisse, Ipreo, Symbiont and R3 have completed the successful initial stage of a project to demonstrate how blockchain technology can be used to improve the syndicated loan market, officials say. The proof of concept will continue throughout the year and will includes participation from agent banks,… Read More >>
SEC Rewards Whistleblower with $22 Million
SEC Awards a Total of $107 Million to Whistleblowers The SEC has given a whistleblower “more than $22 million” for a “detailed tip and extensive assistance” that allowed the regulator to halt “a well-hidden fraud at the company where the whistleblower worked,” according to officials. “The $22 million-plus award is the second-largest total the SEC… Read More >>
SEC Whistleblower Chief to Leave
More than $85M Awarded to 32 Whistleblowers SEC officials report that Sean McKessy, chief of the SEC’s office of the whistleblower, is planning to leave the agency later this month. McKessy became the first head of SEC’s whistleblower program in February 2011, the SEC notes in a statement, and he “helped establish the whistleblower office… Read More >>
CFTC Pays Whistleblower $10 Million
Does it pay to be a whistleblower? The answer to that question may increasingly be in the affirmative as the CFTC just announced an award of “more than $10 million to a whistleblower who provided key original information that led to a successful CFTC enforcement action,” officials say. “The award is the largest made by… Read More >>
SEC and CFTC Reinforce Whistleblower Programs
U.S. regulators the SEC and the CFTC are reaffirming their commitment to make their whistleblower systems more accessible to industry participants and financially rewarding. Most recently, the SEC has given a whistleblower an award of more than $700,000 to “a company outsider who conducted a detailed analysis that led to a successful SEC enforcement action,”… Read More >>
Fort Worth Regional Director Leaving SEC
The SEC reports that David Woodcock, regional director of the Fort Worth, Texas office since 2011 and head of the SEC enforcement division’s nationwide financial reporting and audit task force, is leaving the commission later this spring. As regional director, he currently oversees a region that includes Texas, Oklahoma, Arkansas, and Kansas. Woodcock “helped form… Read More >>
Can Good Come from the Sins of Wall Street?
Thanks to the fines imposed upon Wall Street and insurance firms for their sins during the Great Recession, the New York State government has a $5.1 billion surplus for fiscal year 2016. New York Gov. Andrew Cuomo and other politicians in Albany are scrambling to sort out how to spend the windfall in the best… Read More >>
Is Wall Street Becoming a Rigged Game?
Should investors and the buy side worry that Wall Street is a rigged game? A new survey of 250 people working in financial services finds that nearly one-third of them are ethically challenged. While the sponsor of the survey, the law firm Labaton Sucharow, wants to raise awareness of its whistleblower practice, some of the… Read More >>
