Whistleblower

A former Julius Baer banker who leaked documents from a Cayman Islands subsidiary was cleared of breaking Swiss banking secrecy by Switzerland’s top court, creating possible problems for how the Alpine nation’s banks manage their foreign units.

A former Tesla Inc. employee portrayed by Elon Musk as a saboteur has filed a whistle-blower tip with the U.S. Securities and Exchange Commission alleging the company made misstatements and omissions to investors.

The Securities and Exchange Commission voted Thursday to propose amendments to the rules surrounding its whistleblower program.

Individuals who expose accounting violations can earn substantial payouts.

The former company insider first submitted the tip to another agency, but provided the same information to the Securities and Exchange Commission within 120 days.

The biggest-ever payouts went to tipsters who provided information that helped the agency bring a 2016 case against Bank of America.

The U.S. Supreme Court narrowed an anti-retaliation provision in the 2010 Dodd-Frank financial law, insulating publicly traded companies from some whistleblower lawsuits.

The Securities and Exchange Commission’s whistleblower program demonstrated during fiscal year ended Sept. 30, 2017 that it continues to be a remarkable tool for combating securities fraud in the United States and strengthening capital markets.

This marks the commission’s third award in a week.

U.S. Supreme Court justices signaled they will narrow an anti-retaliation provision in the 2010 Dodd-Frank financial law, hearing arguments in a case that could insulate publicly traded companies from some whistle-blower lawsuits.