推广维持检举者项目的代价很高
文章来源:未知 文章作者:enread 发布时间:2014-11-19 06:50 字体: [ ]  进入论坛
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Promoting and maintaining financial fraud whistleblower programs, such as those of the Securities and Exchange Commission (SEC) and the Commodity Futures1 Trading Commission (CFTC), is costly2. Cases involving whistleblowers require significant resources as they take nearly 10 months longer to complete. Rewards for whistleblowers who come forward with original information leading to an enforcement action can be large, ranging from 10% to 30% of monetary3 sanctions over $1 million. This past September, the SEC awarded $30 million to a whistleblower--it's largest award yet.
 
But according to a new study coauthored by Gerald S. Martin, professor of finance at American University's Kogod School of Business, the benefits of whistleblower programs outweigh4 the costs as whistleblower involvement helps the SEC and Department of Justice (DOJ) build stronger cases against firms and executives accused of financial misrepresentation.
 
Increased Penalties, Greater Enforcement
 
The study, titled "The Impact of Whistleblowers on Financial Misrepresentation Enforcement Actions," found that on average, firm penalties associated with whistleblower involvement are $92.88 million more than when no whistleblower is involved. Executives and employees at firms with whistleblower involvement are fined on average $56.50 million more and are sentenced to prison for approximately 27 months longer.
 
To conduct the study, Martin and his fellow researchers from the University of Iowa, University of Arizona, and Texas A&M University obtained a dataset of employee whistleblowing allegations through a Freedom of Information Act filing. The researchers merged5 this dataset with a comprehensive database of financial misrepresentation enforcement actions under Section 13(b) of the Securities Exchange Act created by the 1977 Foreign Corrupt6 Practices Act.
 
The researchers estimate whistleblowers enabled regulators to successfully obtain additional judgments7 of $21.27 billion more than would have been obtained without their assistance. This increase in penalties accounts for 30% of the total $70.13 billion penalties assessed over the 35 year sample period from 1978 to 2012.


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1 futures Isdz1Q     
n.期货,期货交易
参考例句:
  • He continued his operations in cotton futures.他继续进行棉花期货交易。
  • Cotton futures are selling at high prices.棉花期货交易的卖价是很高的。
2 costly 7zXxh     
adj.昂贵的,价值高的,豪华的
参考例句:
  • It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
  • This dictionary is very useful,only it is a bit costly.这本词典很有用,左不过贵了些。
3 monetary pEkxb     
adj.货币的,钱的;通货的;金融的;财政的
参考例句:
  • The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
  • Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。
4 outweigh gJlxO     
vt.比...更重,...更重要
参考例句:
  • The merits of your plan outweigh the defects.你制定的计划其优点胜过缺点。
  • One's merits outweigh one's short-comings.功大于过。
5 merged d33b2d33223e1272c8bbe02180876e6f     
(使)混合( merge的过去式和过去分词 ); 相融; 融入; 渐渐消失在某物中
参考例句:
  • Turf wars are inevitable when two departments are merged. 两个部门合并时总免不了争争权限。
  • The small shops were merged into a large market. 那些小商店合并成为一个大商场。
6 corrupt 4zTxn     
v.贿赂,收买;adj.腐败的,贪污的
参考例句:
  • The newspaper alleged the mayor's corrupt practices.那家报纸断言市长有舞弊行为。
  • This judge is corrupt.这个法官贪污。
7 judgments 2a483d435ecb48acb69a6f4c4dd1a836     
判断( judgment的名词复数 ); 鉴定; 评价; 审判
参考例句:
  • A peculiar austerity marked his judgments of modern life. 他对现代生活的批评带着一种特殊的苛刻。
  • He is swift with his judgments. 他判断迅速。
TAG标签: financial costs fraud
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