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Whistleblowers Incentives, Disincentives, and Protection Strategies

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ISBN-10: 1118094034

ISBN-13: 9781118094037

Edition: 2012

Authors: Frederick D. Lipman

List price: $50.00
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Description:

The book will discuss business protection strategies and best practices in dealing with whistleblowers, as well as the GlaxoSmithKline, Pfizer and other high profile whistleblower cases. The book is expected to appeal to Board members, C-Suite executives, corporate compliance personnel, attorneys for whistleblowers and defense attorneys as well as all potential employee whistleblowers. The book emphasizes the disincentives to whistleblowing, and will review the academic studies of whistleblowers with the idea of developing best practices to deal with whistleblowers: Introduction. 1. Dodd-Frank Incentives to Whistleblowers 2. The Remarkable Story of Cheryl Eckard and the $96 Million Bounty 3.The Pfizer Over $100 Million Bounty Collectors 4.Other Statutory Incentives to Whistleblowing 5.Disincentives to Whistleblowers and Academic Studies of Whistleblowers 6.Best Practices in Complying with the U. S. Department of Justice Guidelines 7.Best Practices for CEOs in Dealing with Whistleblowers 8.Best Practices for Conducting Whistleblower Investigations 9.The New SEC Whistleblower Rules 10.Qui Tam Actions and Their Defense
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Book details

List price: $50.00
Copyright year: 2012
Publisher: John Wiley & Sons, Limited
Publication date: 12/30/2011
Binding: Hardcover
Pages: 288
Size: 6.30" wide x 9.30" long x 0.98" tall
Weight: 1.034
Language: English

FREDERICK D. LIPMAN is a partner with the law firm of Blank Rome LLP in Philadelphia. He was a lecturer in the MBA program at the Wharton School of Business. A graduate of Harvard Law School, Lipman has more than forty years' experience with M&As, sales of companies, and IPOs. In addition to his books, Lipman has appeared as a television commentator on CNN, CNBC, and Bloomberg, to name a few.

Acknowledgments
Introduction
The Whistleblowers and the Dodd-Frank Incentives
The Dramatic Expansion of Whistleblower Awards under Dodd-Frank
Whistleblower Provisions of Dodd-Frank
What Is "Original Information"?
What Are Violations of the Federal Securities Laws?
Rule 10b-5: Market Manipulation
Violating the Accounting Standards
False Financial Statements by Public Companies
Other Securities Laws
Protections for Whistleblowers
Commodity Exchange Act
Notes
The Remarkable Story of Cheryl Eckard and the $96 Million Bounty under the False Claims Act
Who Is Cheryl Eckard?
Eckard's Post-termination Activities
Eckard's Superiors
Background Allegations
Alleged Violations
Timeline of Eckard's Alleged Activities
The Lessons of Glaxo
Notes
The Pfizer Whistleblowers Who Collected Over $100 Million under the False Claims Act
John Kopchinski
Bextra
The Complaint
Pfizer Lessons
Notes
Disincentives and Factors Motivating Public Disclosure
Disincentives to Internal Whistleblowers
Financial Disincentives
Nonfinancial Disincentives
Contractual Commitments and Fiduciary Duties
Ethics Resource Center Survey
Reinstatement as a Remedy
Empirical Study
Notes
Women as Whistleblowers: Factors Motivating Public Whistleblowing
Sherron Watkins
Cynthia Cooper
Coleen Rowley
External Reporting by Internal Whistleblowers
Whistleblower Anonymity
Notes
Organizational Best Practices
Why Should Organizations Adopt a Robust Whistleblower System?
Diminishment of Shareholder Wealth
Boards of Directors
We Were Duped!
Executive Whistleblowers
Why Independent Directors Cannot Rely Solely on Independent or Internal Auditors
Legal Standard
Caremark
Recommended Strategy
Criminal Liability of an Organization
Responsible Corporate Officer Doctrine
The Acme Markets Case
The U.S. Department of Justice Criminal Guidelines
The Disadvantages of a Robust Whistleblower System
Notes
Establishing a Robust Whistleblower System
Problems with the Current Whistleblower System
Initial Steps
Elements of a Robust Whistleblower Policy
Independent Directors Must Be in Charge
The Whistleblower Program Must Be Independently Administered
Whistleblower Complaints Should be Investigated by Independent Counsel Reporting Directly to the Independent Directors
There Should Be No Presumption that Anonymous Complaints Are Less Deserving of Investigation
Motivations and Personality of the Whistleblower Are Not Relevant to the Truth of the Allegations
Absolute Protection of Whistleblowers' Identity Is Essential
Assess the Effectiveness of Hotlines and Provide Employee Compliance Training
Independent Counsel Should Report the Status and Results of the Investigation
Internal Whistleblowers Should Receive Meaningful Monetary Rewards
The Whistleblower Policy Must Be Communicated Effectively
There Should Be Milder Sanctions for Whistleblowers Involved in Illegal Group Activity
Retaliation Claims Should Be Independently Investigated
The Director of Corporate Compliance Should Become the Eyes and Ears of the Independent Directors
Major Dos and Don'ts for CEOs
Notes
Statutory Incentives and Sec Award Regulations
The False Claims Act: Qui Tarn Cases
What Is a False Claim?
False Claims Act Bounties
U.S. Department of Justice Memorandum
Statute of Limitations
Notes
IRS Whistleblowers
Section 7623(b): Mandatory Whistleblower Awards
Reduction of Award Percentage
Section 7623(a): Discretionary Awards
Form 211
IRS Whistleblowers Awards
IRS Award Determinations
Award Administrative Proceedings
Appeal to Tax Court
Duration of Process and Award Payment
Confidentiality of Whistleblower
Right to Counsel
IRS Contracts
Disqualification of U.S. Treasury Department Federal Employees
Notes
Other Statutory Incentives and Protections for Whistleblowers
Act to Prevent Pollution from Ships
False Patent Marking Statute
U.S. Tariff Act of 1930
State False Claims Statutes
Whistleblower Protections
Barker v. UBS
Other Statutory Whistleblower Protections
Notes
A Step-by-Step Guide to SEC Whistleblowers Awards under Dodd-Frank
Summary
SEC Investor Protection Fund
Does the Whistleblower Need an Attorney?
Step-by-Step Guide
Determining Whether the Over $1 Million Threshold Is
Satisfied Determining the Amount of an Award
Must an Employee Comply with the Company's Internal Compliance Program?
Confidentiality
Nonwaiver of Whistleblower Rights
Appeals
Anti-retaliation Provision
Notes
IRS Form 211
SEC Form TCR: Tip, Complaint or Referral
SEC Form WB-APP: Application for Award for Original Information Submitted Pursuant to Section 21F of the Securities Exchange Act of 1934
SEC Whistleblower Rules
About the Author
Index