News & Analysis as of

KBR (formerly Kellogg Brown & Root) Whistleblower Protection Policies

Katten Muchin Rosenman LLP

SEC Whistleblower Protection: Recent Cautionary Tales and New Best Practices

Although 2017 has barely begun, the Securities and Exchange Commission (SEC) has continued to aggressively pursue enforcement actions against companies for whistleblower-related violations. As part of its initiative, the SEC...more

Womble Bond Dickinson

Companies Should Revisit Severance and Other Agreements as the SEC Steps Up Enforcement Actions to Protect Whistleblower Rights

Womble Bond Dickinson on

In less than one week, the Securities and Exchange Commission (“SEC”) announced enforcement actions against two companies that had required their departing employees to waive their rights to any monetary recovery under the...more

Parker Poe Adams & Bernstein LLP

The SEC Nixes Contractual Waivers of Whistleblower Recoveries

In April 2015, the SEC announced in a first-of-its-kind enforcement action that certain KBR, Inc. confidentiality agreements violated the whistleblower protections of the Dodd-Frank Act by requiring employees and former...more

Littler

SEC Issues Cease-and-Desist Order Against Severance Agreement Clause Limiting Whistleblowers' Rights to Recover Bounty Awards

Littler on

On August 10, 2016, the U.S. Securities and Exchange Commission issued a cease-and-desist Order and imposed remedial sanctions against a publicly traded company for including language in its severance agreements requiring...more

Akerman LLP - HR Defense

Expanded Whistleblower Protections Impact Confidentiality Policies and Agreements

All employers should review their confidentiality policies and agreements to ensure adequate protections for whistleblowers in the wake of recent actions by both the Securities and Exchange Commission (“SEC”) and the National...more

Thomas Fox - Compliance Evangelist

King Arthur Week – The Green Knight and the Protection of Whistleblowers – Part IV

We continue our King Arthur themed week with an exploration of one of the most interesting characters in the Arthur canon, The Green Knight, so called because his skin and clothes are green. The meaning of his greenness has...more

WilmerHale

SEC Applies Whistleblower Interference Rule to Corporate Confidentiality Requirement

WilmerHale on

On April 1, the US Securities and Exchange Commission issued—in a settled administrative proceeding—a cease-and-desist order in In the Matter of KBR, Inc., directing that the respondent cease violating Commission Rule...more

Wilson Sonsini Goodrich & Rosati

SEC Joins Agency Attack on Confidentiality Clauses in Employee-Related Agreements and Policies

In a recent enforcement action, the Securities and Exchange Commission (SEC) took action against a company for "using improperly restrictive language in confidentiality agreements with the potential to stifle the...more

Franczek P.C.

Confidentiality Clauses Under Increasing Scrutiny by Federal Agencies

Franczek P.C. on

The Securities and Exchange Commission (SEC) has become the latest federal agency to challenge the legality of employee confidentiality requirements. Earlier this month, the SEC instituted its first administrative proceeding...more

Epstein Becker & Green

SEC Enforcement Gives Employers a Strong Incentive to Clarify That Their Confidentiality Agreements Do Not Preclude Reporting...

Epstein Becker & Green on

The Securities and Exchange Commission? (“SEC”) has resolved its first enforcement action regarding a potentially overreaching confidentiality agreement following the “voluntary” revision of the agreement to state that it...more

Blank Rome LLP

Beware of Confidentiality Agreements with Employees; Make Sure They Don’t Stifle Whistleblowing

Blank Rome LLP on

On April 1, 2015, the SEC announced its first enforcement action against a company for utilizing language in a confidentiality agreement which could discourage whistleblowing....more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - April 2015

It’s Stifling in Here! SEC Rules That Companies Can’t Put Restrictive Language in Confidentiality Agreements That Could Potentially Stifle Whistleblowers - Why it matters: On April 1, 2015, the SEC announced its...more

Baker Donelson

Can You Keep a Secret? The SEC Says to Ask Carefully

Baker Donelson on

Employers have a lot to be worried about. Employees are given access to trade secrets, customer lists, financial accounts, and other highly sensitive, confidential information. Most employers attempt to deter improper use of...more

Sheppard Mullin Richter & Hampton LLP

SEC Takes Aggressive Approach to Fortify Dodd-Frank’s Whistleblower Rules

On April 1, 2015, the Securities & Exchange Commission (the “SEC” or “Commission”) fined a public company $130,000 for requiring employees involved in internal investigations to sign a confidentiality agreement that the...more

Epstein Becker & Green

Five Key Issues Confronting Financial Services Industry Employers

Epstein Becker & Green on

Employers in the financial services industry are faced with a growing number of employment law challenges. Whistleblower complaints are on the rise as regulatory agencies become more aggressive in their efforts to encourage...more

Goodwin

SEC Applies Whistleblower Protections to Confidentiality Arrangements

Goodwin on

Public companies should review their confidentiality arrangements for any provisions that may result in unintended violations of the Dodd-Frank Act’s whistleblower protections....more

Stoel Rives LLP

In Case You Missed It - Interesting Items for Corporate Counsel - April 2015

Stoel Rives LLP on

We knew someone would do this for us if we just waited long enough. A summary of early trends in proxy access responses suggests most are including the shareholder proposal and recommending a no vote. See here. Only a single...more

Winstead PC

The SEC Joins the NLRB and EEOC in the Assault on Employee Confidentiality Agreements and Policies in Workplace Investigations

Winstead PC on

On April 1, 2015, the United States Securities and Exchange Commission (SEC) announced its first settlement of a whistleblower enforcement action against a company for using confidentiality agreements to stifle the...more

Holland & Knight LLP

In-House Counsel Risk SEC Enforcement for Some Confidentiality Agreements - Following Best Practices as Part of a Comprehensive...

Holland & Knight LLP on

Confidentiality agreements are boilerplate in many legal departments, but they shouldn't be. In-house counsel need to review all currently effective confidentiality agreements with anyone who could potentially be a...more

Parker Poe Adams & Bernstein LLP

SEC Says Employer's Confidentiality Agreement Violates Dodd-Frank

Employers paying severance to separated employees usually require written release agreements that include a confidentiality provision. The employee is prohibited from disclosing the existence of the agreement, or from...more

Brooks Pierce

Three Thoughts about the SEC’s First “Pretaliation” Case

Brooks Pierce on

I was on a flight last Wednesday when the SEC released the first of what whistleblower chief Sean McKessy has dubbed “pretaliation” cases against KBR, Inc. When I landed I had several emails from colleagues, asking, “Did you...more

Benesch

The SEC is Taking a Closer Look at Confidentiality Agreements to Ensure Potential Whistleblowers Not Restrained

Benesch on

The Securities and Exchange Commission (“SEC”) announced on April 1, 2015 that it was instituting enforcement proceedings relating to the whistleblower provisions of the 2010 Dodd–Frank Wall Street Reform and Consumer...more

Locke Lord LLP

Locke Lord QuickStudy: SEC Sends Clear Message - Companies Cannot Restrict Whistleblowers Via Employee Confidentiality Agreements

Locke Lord LLP on

On April 1, 2015, the Securities and Exchange Commission (SEC) announced its first enforcement action against a company for using improperly restrictive language in employee confidentiality agreements, noting that such limits...more

Allen Matkins

Could The SEC Ask Airlines To Produce Data On Delayed And Canceled Flights?

Allen Matkins on

The following story is fiction.   It was imagined following the SEC’s recently settled action against KBR, Inc. Airlines were caught completely off guard yesterday by SEC letters asking that they produce five years of...more

Katten Muchin Rosenman LLP

SEC Brings First Action Against Company for Potentially Stifling Whistleblowers With Confidentiality Statement

The Securities and Exchange Commission recently charged KBR, Inc., a Delaware corporation specializing in technology and engineering, with a Rule 21F-17(a) violation for using language in employee confidentiality statements...more

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