in this matter provided stellar information and ongoing assistance that resulted in the Commission bringing a programmatically significant enforcement action,' said Jane Norberg, Chief of the SEC's Office of the Whistleblower
The Commission would have the powers to take action against any whistleblower
if he/she is found guilty of providing false, inaccurate or misleading information.
Protection and Vigilance Commission bill', the minister said the legislation will provide a mechanism for whistleblower
information relating to corruption and to protect information provider, in order to protect whistleblowers
from disadvantageous measures such as removal from office, disciplinary action and intimidation etc.
"Instead of harassing whistleblowers
, public structures should denounce corrupt officials," he pointed out.
This stems from the new law on the protection of whistleblowers
, signed by President Andrej Kiska."We are now doing everything we can to prevent them from being harmed and let them speak if they do not like something," said Prime Minister Peter Pellegrini (Smer) about the law, which is to protect whistleblowers
and motivate others to speak out, as quoted by the TASR newsiwre.
MPs and the CIF feel that adopting a law protecting whistleblowers
is essential if "Cyprus wants to combat corruption effectively and build a culture which will not tolerate corrupt practices whether in governance or their everyday life".
* First, it relegated the existing, purely discretionary whistleblower
law to IRC section 7623(a) and created a mandatoiy whistleblower
law at section 7623(b) that was applicable to cases in which the "proceeds in dispute exceed $2,000,000" and that set whistleblower
awards at 15%--30% of proceeds.
In the event the anti-graft agencies recover an asset, the whistleblower
would be entitled to 10 percent reward of its value.
It is worth noting that a disclosure and a complaint are different: a disclosure is defined as 'provision of information as required under law or in good faith, regarding activities of a private individual, public official, company or organisation' whereas a complaint (within the context of whistleblowing) would be made, for example, about retaliation a whistleblower
Section 7623(b) of the Code mandates the Commissioner of the IRS to provide whistleblowers
with awards for information that results in the Service's detection of underpayment of taxes or its ability to bring to justice individuals guilty of violating the internal revenue laws of the United States, provided that the qualifications of section 7623(b)(5) are met, which require the taxpayer have a gross income greater than $200,000 and "the proceeds in dispute exceed $2,000,000." (11) In hopes of an award under these provisions, the petitioners in Whistleblower
The 2016 Annual Report to Congress on the Dodd-Frank Whistleblower
Program notes that whistleblower
reports have had a "transformative" effect on the SEC's enforcement program, with hundreds of millions of dollars being returned to wronged investors.
Josifovski said that with the help of Pistaljka he's using the new whistleblower
law to sue the government of Serbia for inaction in investigating his claims of fraud.