August 17, 2016 BY Valentina Kirilova
SEC fines Health Net Inc. for severance agreements that removed financial incentives for whistleblowing
The Securities and Exchange Commission (SEC) has announced that a California-based health insurance provider has agreed to pay a $340,000 penalty for illegally using severance agreements requiring outgoing employees to waive their ability to obtain monetary awards from the SEC’s whistleblower program. According to the SEC’s order, Health Net Inc. violated federal securities laws by taking away…
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