Dodd-Frank Wall Street Reform and Consumer Protection Act Whistleblowers

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
News & Analysis as of

Bank Whistleblower Suits Highlight Limits of Employee Confidentiality Agreements

Employers increasingly face the difficult scenario of employees who misappropriate company data in the pursuit of whistleblower claims alleging misconduct by the employer. Such cases can present a complex mix of regulatory,...more

S.D.N.Y. Dismisses Dodd-Frank Whistleblower Retaliation Claim

In one of the first cases to address the standard governing a motion for summary judgment in a Dodd-Frank whistleblower retaliation case, Judge Jed S. Rakoff ruled that two former executives of Vista Outdoor Inc. (the...more

Bio-Rad Stung by Nearly $8 Million Verdict in Whistleblower Lawsuit Brought by Former General Counsel

A jury recently found Bio-Rad Laboratories liable under the Sarbanes-Oxley Act and the Dodd-Frank Act for nearly $8 million in damages after the company’s alleged retaliatory firing of its former general counsel, Sanford...more

Federal Whistleblower Laws Collide With The Attorney-Client Privilege: The Bio-Rad Case Study

Seyfarth Synopsis: Federal whistleblower laws collide with the in-house attorney-client privilege. The trial round goes to the whistleblower. The expected appellate round has still not been fought. In a February 7,...more

The Top Ten Regulatory and Litigation Risks for Private Funds in 2017

Private investment funds and advisers are likely to face new regulatory challenges and increased litigation risks in 2017, not only because of a change in the administration, but also because many advisers have not corrected...more

Proskauer To Present On Whistleblower Developments At ABA Midwinter Meeting

On February 24, 2017 at 10:30 am, Proskauer Partner Connie Bertram will speak on “Whistleblower Provisions of Sarbanes Oxley” at the American Bar Association Section of Labor and Employment Law’s Federal Labor Standards...more

2016 Year-End Securities Litigation and Enforcement Highlights

Welcome to the 2016 Year-End Report from the BakerHostetler Securities Litigation and Regulatory Enforcement Practice Team. The purpose of this Report is to provide a periodic survey, apart from our team Executive...more

Modern Whistleblower Retaliation Risk Require a Modern Framework

If compliance officers ever needed one more sign about the importance of anti-retaliation programs, it arrived on September 29, 2016. On that day, the Securities and Exchange Commission (SEC ) fined a company that makes...more

Whistleblower Conference Agenda Sizzles with Hot Topics

2016 was more than simply the most robust year in Foreign Corrupt Practices Act (FCPA) enforcement. It was also a record year in Securities and Exchange Commission (SEC) whistleblower awards and additionally the year the SEC...more

Sixth Circuit Declines to Address the Definition of Dodd Frank “Whistleblower”

On January 13, 2017, the Sixth Circuit in Verble v. Morgan Stanley Smith Barney, LLC, declined an opportunity to be the third federal appellate court to address the definition of “whistleblower” under Dodd Frank’s...more

SEC Issues $5.5 Million Whistleblower Award

On January 6, 2017, the SEC announced the first whistleblower award this year.  The award of approximately $5.5 million, comes almost exactly a month after the SEC issued two awards totaling over $4.4 million....more

Despite Privilege, GC May Pursue Whistleblower Retaliation Suit under SOX and Dodd–Frank

California’s USDC–ND ruled that Bio-Rad Laboratories’ former General Counsel may use privileged communications to prove his retaliatory-discharge case prosecuted under Sarbanes–Oxley and Dodd–Frank’s whistleblower...more

Highlights of SEC’s 2016 Annual Whistleblower Report

The Securities and Exchange Commission’s Office of the Whistleblower recently released its sixth Annual Report on the Dodd-Frank Whistleblower Program to Congress, which details information on the SEC’s activities and bounty...more

Whistle While You Work: SEC Whistleblower Office Releases Its 2016 Annual Report

The SEC released its Fiscal Year 2016 Annual Report (the “Report”) to Congress on the Dodd-Frank Whistleblower Program on November 15, 2016. The Report analyzes the tips received over the last twelve months by the SEC’s...more

Outgoing SEC Chair Reflects on the Agency’s Enforcement Program and Advocates for Increased Authority

On November 18, 2016, outgoing SEC Chair Mary Jo White delivered a speech at New York University School of Law entitled “A New Model for SEC Enforcement: Producing Bold and Unrelenting Results.”  Chair White’s remarks covered...more

Employers Beware: SEC Continues Offensive on Employment Agreements That Inhibit Whistleblowers

Risk Alert (literally)! Standard provisions in employment agreements, severance agreements and policies may run afoul of the SEC’s whistleblower regulations. In the wake of several highly publicized enforcement actions by the...more

Did These 10 OSHA Rules and Initiatives Die With the Election of Donald Trump?

The election of Donald Trump surprised some Americans. In the days since his victory, our firm’s lawyers have fielded numerous questions from employers regarding what changes to workplace law they can expect under the Trump...more

SEC's Whistleblower Program Is Alive and Well

The U.S. Securities and Exchange Commission (the “Commission”) has reported to Congress that its Whistleblower Incentives and Protections program continues grow, not only in terms of the number of tips received and the number...more

SEC Announces $20 Million Whistleblower Award

On November 14, 2016, the United States Securities and Exchange Commission announced an award of at least $20 million to a whistleblower for providing information that initiated a successful investigation and enforcement...more

Orrick's Financial Industry Week In Review

Financial Industry Developments - SEC Adopts Final Rules to Facilitate Intrastate and Regional Securities Offerings - On October 26, 2016, the Securities and Exchange Commission adopted rules designed to modernize...more

OCIE Staff to Examine Registered Advisers' Policies and Agreements for Whistleblower Rule Compliance

On October 24, 2016, OCIE published a risk alert noting that the SEC exam staff intends to examine registrants' compliance with the Dodd-Frank Act's whistleblower provisions. The alert noted recent enforcement actions...more

SEC Examiners Focus on Investment Adviser and Broker-Dealer Compliance With Whistleblower Rules

Last week, the SEC's Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert regarding examinations of investment adviser and broker-dealer registrants' compliance with key whistleblower provisions...more

SEC Office of Compliance Inspections and Examinations Issues Risk Alert on Whistleblower Rule Compliance

On October 24, Staff in the Office of Compliance Inspections and Examinations (the “Staff”) issued a National Exam Program Risk Alert announcing that it is examining registered investment advisers and registered...more

E.D. Pennsylvania Limits Protected Activity Under SOX

In Westawski v. Merck & Co., No. 14-cv-3239 (E.D. Pa. Oct. 18, 2016), the Eastern District of Pennsylvania granted Defendant Merck & Co. (Company) summary judgment on Plaintiff Joni Westawski’s (Plaintiff) SOX whistleblower...more

Blog: Are Stock Options A Counterweight To Whistleblower Bounties?

A new academic study, “Rank and File Employees and the Discovery of Misreporting: The Role of Stock Options,” finds that companies that flout financial reporting rules tend to grant more stock options than their peers that...more

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