On March 24, the United Kingdom’s Financial Conduct Authority (FCA) announced the launch of a campaign to encourage individuals to report wrongdoing — i.e., whistleblowing.
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FCA Publishes New and Updated Whistleblowing Webpages
On October 21, the UK’s Financial Conduct Authority (FCA) published new and updated webpages relating to whistleblowing (the Webpages).
The Webpages discuss:
- when to report wrongdoing to the FCA, how the FCA protects the identities of whistleblowers and what the FCA will do with the information reported;
- the legal and FCA protection available to whistleblowers
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CFTC Division of Enforcement Issues Public Enforcement Manual
On May 8, the Division of Enforcement (the “Division”) of the Commodity Futures Trading Commission issued its first public enforcement manual (the “Enforcement Manual”). The Enforcement Manual explains the roles of the CFTC and Division generally, and outlines certain general policies and procedures that guide the Division in its investigation and prosecution of violations of the Commodity Exchange Act (CEA) and CFTC Regulations.
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OECD Publishes Follow-up Report on UK’s Implementation of Anti-Bribery Convention
On March 21, the Organisation for Economic Co-operation and Development’s (OECD’s) Working Group on Bribery (Working Group) published its “Phase 4 Two-Year Follow-Up Report” on the United Kingdom’s implementation of the OECD anti-bribery convention. The Working Group’s report follows the written responses the United Kingdom submitted in March 2019 to the OECD’s “Phase 4” evaluation in March 2017.
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European Commission Proposes New Directive to Protect EU Whistleblowers
On April 23, the European Commission (EC) adopted a package of measures, including a draft Directive and an Impact Assessment, to protect whistleblowers who report breaches of EU law.
The definition of a “whistleblower” under the proposed new Directive would encompass any person who has “privileged access to information about breaches that can cause serious harm to the public interest and who may suffer retaliation if they report” (i.e., not just employees, but also self-employed people, contractors, unpaid trainees and even job applicants).
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Supreme Court Limits Scope of Dodd-Frank Whistleblower Protections
On February 21, the US Supreme Court decided Digital Realty Trust, Inc. v. Somers (583 U.S. ____ (2018)), which resolved a circuit split related to whether the anti-retaliation provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 124 Stat. 1376 (Dodd-Frank) extend to individuals who have not reported a securities law violation to the Securities and Exchange Commission and, therefore, falls outside of Dodd-Frank’s definition of a “whistleblower.”
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CFTC Approves Amendments to Whistleblower Rules
On May 22, the Commodity Futures Trading Commission approved amendments to the whistleblower rules in 17 CFR Part 165. The amended rules strengthen the anti-retaliation protections for whistleblowers and enhance the process for review of whistleblower claims.
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CFTC Launches Whistleblower Program’s Website
On January 21, the Commodity Futures Trading Commission launched its Whistleblower Program’s new website, www.whistleblower.gov. The new website has a user-friendly interface to help educate the public regarding the Whistleblower Program, including whistleblower rights and protections, the process for filing a tip and applying for an award. Users also can submit tips on potential…