Daily Archives: February 22, 2018, 7:02 pm

‘The SEC Has a Big Problem Now’ After Broad Whistleblower Protections Curbed | National Law Journal

The U.S. Supreme Court on Wednesday unanimously slapped down the SEC’s broad view of anti-retaliation protections, ruling that Dodd-Frank’s text clearly affords safeguards against reprisal only to those who contact the commission. Now, the open question for whistleblower and securities industry lawyers is how—or even whether—the SEC continues to promote internal whistleblowing in the new legal landscape. via ‘The SEC…

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U.S. Supreme Court Trims Corporate Whistle-Blower Protections – Bloomberg

The court unanimously threw out a lawsuit against Digital Realty Trust Inc. by a former company official who was fired after complaining internally about alleged violations of federal securities laws. Writing for the court, Justice Ruth Bader Ginsburg said Dodd-Frank authorized whistle-blower lawsuits only by people who had reported the alleged misconduct to the Securities and Exchange Commission. Lower courts…

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SEC issue guidelines regarding disclosure of security breaches – Business Insider

Intel CEO Brian Krzanich sold millions of dollars worth of company stock after his company became aware of the Spectre and Meltdown security vulnerabilities, but before they became public. The Securities and Exchange Commission has a bit of advice for other executives thinking of doing something similar: Don’t. In new guidelines issued on Wednesday, the agency warned that security breaches…

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The Legal Risk to ICOs That No One’s Talking About – CoinDesk

With the rise and rise of initial coin offerings (ICOs), much attention has been paid to how the U.S. Securities and Exchange Commission (SEC) and federal prosecutors view this innovation. And rightfully so, as those enforcement systems carry stiff penalties and even the potential for jail. But investors and companies should also know that buyers can sue sellers privately under…

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Jury Hangs in SoCal Insider-Trading Trial

A federal judge declared a mistrial Wednesday after the jury deadlocked on whether a Southern California CEO gave insider trading tips about his company’s merger to retired Major League third baseman Doug DeCinces. The jury hung 10 to 2 in favor of acquitting James Mazzo, former CEO of Advanced Medical Optics, of 16 insider trading charges and four perjury charges,…

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