Tag: Retaliation

SEC Policy Incentivizing Whistleblowers Weakened by Ruling, Lawyers Say – WSJ

But whistleblower lawyers don’t expect many more awards born from the SEC’s policy incentivizing internal reporting. The Supreme Court last year issued an opinion in a case involving Digital Realty Trust Inc. that said antiretaliation protections for whistleblowers provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act extend only to those who provide tips directly to the SEC—regardless…

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SEC Cracks Down on Employer “Pretaliation” – Lexology

As the SEC’s latest enforcement actions demonstrate, the SEC interprets the prohibition against restricting an employee’s ability to provide information about a possible securities violation to the SEC Section 21F-17 quite broadly. Thus, as the law on this topic develops, employees should be vigilant of the prohibitions that their employer’s place on their ability to participate in the SEC’s whistleblower…

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$600,000 to Man in Whistleblower Retaliation Case | Compliance Week

In June 2014, the Securities and Exchange Commission charged an Albany, N.Y.-based hedge fund advisory firm, Paradigm Capital Management, with engaging in prohibited principal transactions and then retaliating against the employee who reported the trading activity to the Commission…. On Tuesday, the SEC announced that the whistleblower will receive a maximum whistleblower award payment of 30 percent of the amounts…

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Three Thoughts about the SEC’s First “Pretaliation” Case | Cady Bar the Door

McKessy has been warning for almost a year that the Commission was considering filing cases to enforce this provision.  Specifically, he had in mind companies that use overly restrictive language in confidentiality agreements with current or departing employees to prevent those employees from reporting corporate misconduct to the SEC.  Smart corporate counsel have been thinking about these warnings for a…

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Questions Still Remain About the Protection of Whistleblowers | Compliance Week

As the Securities and Exchange Commission’s Office of the Whistleblower continues to gain traction in its third full year in operation, two important questions about the ability to protect whistleblowers have surfaced: (1) the extent to which whistleblowers’ identities can actually be protected; and (2) the circumstances in which whistleblowers can claim they have been retaliated against. via Questions Still…

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Ruling Leaves Cloud on Whistleblowers – WSJ

U.S. authorities have reached beyond the country’s borders to extract huge settlements from foreign firms like BNP Paribas SA, Total SA  and Credit Suisse Group AG. But a new court ruling may mean U.S. law doesn’t extend far enough to protect certain whistleblowers who flag such violations. via Ruling Leaves Cloud on Whistleblowers – WSJ

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SEC Brings First Whistleblower Retaliation Enforcement Action – Compliance Week

With the first case under its new authority to bring anti-retaliation enforcement actions, the Securities and Exchange Commission on Monday charged an Albany, N.Y.-based hedge fund advisory firm with engaging in prohibited transactions and then seeking retribution against the employee who reported the illicit trading activity. via SEC Brings First Whistleblower Retaliation Enforcement Action – Compliance Week

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