SEC Issues Whistleblower Awards Totaling $2.6 Million

SEC

The Securities and Exchange Commission today announced awards of approximately $2.6 million to five whistleblowers who provided information and assistance in three separate enforcement proceedings. read more »

SEC Requests Information and Comment on Broker-Dealer and Investment Adviser Digital Engagement Practices, Related Tools and Methods, and Regulatory Considerations and Potential Approaches; Information and Comments on Investment Adviser Use of Technology

SEC

The Securities and Exchange Commission today announced that it is requesting information and public comment on matters related to the use of digital engagement practices by broker-dealers and investment advisers. These tools include behavioral prompts, differential marketing, game-like features (commonly referred to as gamification), and other design elements or features designed to engage with retail investors on digital platforms (e.g., websites, portals, and applications), as well as the analytical and technological tools and methods (collectively called digital engagement practices (DEPs)). read more »

Louisiana Doctor Indicted for Illegally Dispensing Over One Million Doses of Opioids and for $5.1 Million Health Care Fraud Scheme

DOJ

A federal grand jury in New Orleans, Louisiana, returned an indictment today charging a Louisiana physician for his role in distributing over 1,200,000 doses of Schedule II controlled substances, including oxycodone and morphine, outside the scope of professional practice and not for a legitimate medical purpose, and for maintaining his clinic for the purpose of illegally distributing controlled substances. Today’s indictment also charges the physician with defrauding health care benefit programs, including Medicare, Medicaid, and Blue Cross and Blue Shield of Louisiana, of more than $5,100,000, given that the opioid prescriptions were filled using health insurance benefits. read more »