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To pay or not to pay: EU directive splits from US counterpart over financial reward for whistleblowers

Premium March 16, 2021

As is the trend with many top-down policies, the US chose the monetary reward path while Europe placed its hopes on the moral incentive of individuals. But the research on either side of the incentive debate is contradictory and inconclusive.

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NEWS: US firms again have to submit beneficial ownership information, FinCEN extends filing deadline 

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NEWS: Broker Aarna Capital fined $500K by Abu Dhabi FS authority for violating AML laws

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NEWS: Bank of America hit with cease and desist order over ‘unsafe or unsound’ AML measures

By Vish Gain for AMLi

AT THE HEART of the difference between the whistleblowing directives of the United States and the European Union is a philosophical question that has divided economists and policymakers on both sides of the Atlantic: what motivates a whistleblower?

The US Securities and Exchange Commission’s whistleblower programme has served as an example for the EU’s own regional whistleblower regime which replaces the many national laws of member states, according to the WSJ. Organisations operating in Europe with more than 50 employees will be required to have ‘whistleblower hotlines’ to receive EU law violation reports, which includes money laundering.

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Premium

NEWS: US firms again have to submit beneficial ownership information, FinCEN extends filing deadline 

 Premium

NEWS: Broker Aarna Capital fined $500K by Abu Dhabi FS authority for violating AML laws

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NEWS: Bank of America hit with cease and desist order over ‘unsafe or unsound’ AML measures

Regulatory Watch News

  • Food City Agrees to Pay over $8M to Settle False Claims Act Allegations Related to Opioid Dispensing

    US Department of Justice

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    FMA

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    Securities and Futures Commission

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