As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers
and does not disclose information that could reveal a whistleblower
In this regard, he called on the media and the civil society to mobilise to denounce any act of harassment against female whistleblowers
It will provide protection to whistleblowers
, control whether the law is being observed, provide expert opinions and advice on the application of the law, as well as provide a reward to those reporting on unlawful activities, TASR wrote.The head of the new authority will be elected by parliament from among two candidates selected by an expert commission.
Prerequisites are the establishment of a legal framework for the protection and recognition of whistleblowers
in Cyprus, raising awareness regarding social perceptions, as well as the creation of a relevant Whistleblowing Agency which will provide, among other things, legal and other support to witnesses coming forward in the public interest.
Unlike the regulations, the whistleblower
statute has no substantiality requirement for entitlement to a mandatory award.
Some countries have placed the whistleblower
reward between 15-25 per cent of the recovered amount or penalty imposed on suspects of proceeds of crime.
They also take into account lessons learned from existing laws and their implementation in practice, and have been shaped by input from whistleblower
experts, government officials, academia, research institutes and NGOs from all regions.
In 1867, Congress passed what is now IRC section 7623(a), giving the Secretary of the Treasury the discretion to award amounts to promote the "detecting and bringing to trial and punishment persons guilty of violating the internal revenue laws or conniving at the same." (35) This law basically remained unchanged during its first 140 years, with courts finding that the Service's decision of whether to award a whistleblower
Securities & Exchange Commission (SEC) to whistleblowers
under Dodd-Frank have exceeded $100 million, with $57 million given in fiscal year 2016.
In October, Pistaljka hosted "For Every Truth There Is a Source," its first international conference on protecting whistleblowers
and journalistic sources.
Using practices to stifle a would-be whistleblower
will continue to be a "top priority" for the whistleblower
office in the upcoming fiscal year, as will identifying "fact patterns of retaliation" to ensure that whistleblowers
feel comfortable reporting wrongdoing without fear of repercussions, Norberg said in her report.
The Securities and Exchange Commission (SEC) recently announced an award of more than $4 million to a whistleblower
in connection with a fraud case.