‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC 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 […]
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 […]
SEC Has Laser Focus on Severance Agreements | Bloomberg BNA
The Securities and Exchange Commission is serious about stamping out problematic severance agreements. In less than one week, two companies have had to pay fines to resolve commission allegations that their severance agreements violated whistle-blower protection rules. via SEC Has Laser Focus on Severance Agreements | Bloomberg BNA.
Court: Whistleblowers Protected, SEC Reporting or Not | Compliance Week
A federal appeals court on Thursday ruled that employees are covered by anti-retaliation provisions for whistleblowers provided by the Dodd-Frank Act even if they don’t file a report with the Securities and Exchange Commission. via Court: Whistleblowers Protected, SEC Reporting or Not | Compliance Week
$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 […]
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 […]
SEC Brings First Action Alleging Whistleblower ‘Pre-taliation’ | Compliance Week
Today, the SEC announced that it has filed its first enforcement action against a company for what the agency has previously labeled “pre-taliation,” i.e., using confidentiality agreements or other agreements to potentially stifle the whistleblowing process. via SEC Brings First Action Alleging Whistleblower ‘Pre-taliation’ | Compliance Week
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 […]
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
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 – […]