SEC Division of Enforcement Publishes Annual Report for Fiscal Year 2020

SEC

In fiscal year 2020, the SEC brought a diverse mix of 715 enforcement actions, including 405 standalone actions.  These actions addressed a broad range of significant issues, including issuer disclosure and accounting violations; foreign bribery; investment advisory issues; securities offerings; market manipulation; insider trading; and broker-dealer misconduct. Through these actions, the SEC obtained judgments and orders totaling approximately $4.68 billion in disgorgement and penalties – a record amount for the Commission – and returned more than $600 million to harmed investors. Significantly, through the Division's efforts, the SEC awarded a record $175 million to 39 whistleblowers in fiscal year 2020, both the highest dollar amount and the highest number of individuals awarded in any fiscal year. read more »

SEC Awards Over $10 Million to Whistleblower

SEC

The Securities and Exchange Commission today announced an award of over $10 million to a whistleblower whose information prompted the opening of an investigation and provided substantial, ongoing assistance to SEC staff throughout the investigation. In more than a dozen communications with the staff, the whistleblower provided key evidence, helped decipher communications, and distilled complex issues. read more »

Medtronic to pay $9.2M fine on kickback charges regarding South Dakota neurosurgeon

STAR TRIBUNE

Medtronic will pay the federal government $9.2 million to resolve allegations that it violated the U.S. False Claims Act and Medicare rules in reportedly providing kickbacks to a South Dakota neurosurgeon in exchange for using one of the medical device maker's products. read more »