By offering a safe environment for whistleblowing and taking internal reports seriously, companies can attempt to preemptively eliminate corruption and securities fraud.
Philadelphia, PA (PRWEB) May 19, 2014
A noted United States whistleblower attorney will present to in-house counsel and compliance professionals at U.S. affiliated companies in India on the monthly teleconference hosted by the Anti-Corruption and FCPA Compliance Committee of the American Chamber of Commerce in India. Eric L. Young, Esq., managing partner of Young Law Group, will offer “Lessons from Whistleblowers for FCPA Compliance” as part of the Anti-Corruption Informational Series: Benchmarking and Disseminating Best Practices.
The monthly teleconference on the third Wednesday at 6:00 pm India time (8:30 am EST time) facilitates an interactive discussion on market access and compliance strategies. It also provides participants with practical insights into anti-corruption compliance.
Young will offer thoughts on how compliance departments and corporate executives can encourage and improve internal reporting by whistleblowers based on his experience and understanding of the motives of individuals reporting fraud and corruption to the U.S. government. According to Young, “By offering a safe environment for whistleblowing and taking internal reports seriously, companies can attempt to preemptively eliminate corruption and securities fraud.”
Monetary incentives for reporting certain FCPA violations to the U.S. Securities and Exchange Commission present a new opportunity to international residents and a new challenge for companies operating overseas.
The Office of the Whistleblower at the U.S. SEC was authorized in the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010. It provides monetary awards to eligible individuals who provide original information about a violation of U.S. securities law that leads to an enforcement action resulting in more than $1 million in sanctions. The awards range from 10 to 30 percent of the amount recovered.
Andrew Ceresney, Co-Director of the Division of Enforcement at the Securities and Exchange Commission, expects violations of the Foreign Corrupt Practices Act to be the source of an increasing number of whistleblower tips due to the propensity for sanctions against corporations in the tens or hundreds of millions of dollars. * In Fiscal Year 2013, the number of tips from whistleblowers to the SEC related to the Foreign Corrupt Practices Act increased nearly 30% over the number received in FY 2012. **
About Young Law Group, P.C.
Young Law Group represents clients filing qui tam lawsuits under the False Claims Act and providing tips to the SEC, U.S. Commodity Futures Trading Commission, and Internal Revenue Service.
Eric L. Young, Esq., managing partner of Young Law Group, represented the first whistleblower awarded compensation by the IRS under the mandatory reward program created following the Tax Relief and Health Care Act of 2006. Young has also served as an expert witness in areas of U.S. whistleblower law and represented clients in some of the largest qui tam recoveries. Young is licensed to practice law in the Commonwealth of Pennsylvania.
For a free, confidential case evaluation and discussion about whistleblower laws and rights, please call Eric Young, Esq., at 1-800-590-4116.
Learn more about Eric Young, Esq., and Young Law Group at http://young-lawgroup.com
ATTORNEY ADVERTISING. Young Law Group, P.C. is a private law office located at 123 S. Broad St. Set 1920, Philadelphia, PA 19109. The firm will associate with local counsel in other jurisdictions when necessary. Young Law Group may not be able to represent residents of all states. Past results do not guarantee or predict a similar outcome in any present or future matter.
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