News & Analysis as of

Sarbanes-Oxley Whistleblowers Securities and Exchange Commission (SEC)

Mitratech Holdings, Inc

Ethics on the Line: Hotlines in Canada vs. the US; the Impact of the Whistleblower Act on Corporate Culture

We’ve talked before about how speak-up culture is on the rise; 6,000 more anonymous hotline reports were filed in 2023 than 2022, according to the respondent of Mitratech’s 2024 State of Ethics Reporting Hotlines....more

Seward & Kissel LLP

Employment Litigation Roundup: June 2024

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CFTC charges employer with failing to include whistleblower carveout in agreements with employees - Commodities trading firm Trafigura Trading LLC agreed to pay a $55 million fine to settle charges from the Commodity...more

NAVEX

A Look at the Whistleblowers Who Made Lasting Impacts

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As seen in the previous article, whistleblowing cases regularly make the news headlines. And while some of the names of the reporters or the cases are well known, it’s worthwhile to take a closer look at the people behind the...more

Oberheiden P.C.

A Guide to Whistleblowing Under the Sarbanes-Oxley Act (SOX)

Oberheiden P.C. on

The Sarbanes-Oxley Act of 2002, also referred to as SOX or as Sarbox, is a federal statute that requires specific corporate recordkeeping measures as well as financial reporting. It was passed in the aftermath of several huge...more

Oberheiden P.C.

A Handbook for SEC Whistleblowers

Oberheiden P.C. on

The U.S. Securities and Exchange Commission’s (SEC) Whistleblower Program was created in Section 922 of the Dodd-Frank Act of 2010, which amended the Securities Exchange Act to include a whistleblower provision. It has since...more

Hinshaw & Culbertson - Employment Law...

Implications for New York Employers: Sarbanes-Oxley Whistleblower Protections Examined by Second Circuit

On March 1, 2024, the Second Circuit affirmed the judgment of the Southern District of New York in Brian La Belle v. Barclays Capital Inc, No. 23-448 (2d Cir. 2024)....more

Proskauer - California Employment Law

Whistleblower Protection Laws Do Not Apply Outside the United States

Daramola v. Oracle Am., Inc., 92 F.4th 833 (9th Cir. 2024) - Tayo Daramola is a Canadian citizen who resided in Montreal at all relevant times and who worked for Oracle Canada, a wholly owned subsidiary of Oracle...more

ArentFox Schiff

SCOTUS Holds That SOX Whistleblowers Are Not Required to Prove Retaliatory Intent

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In a victory for whistleblowers, a unanimous US Supreme Court has held that a whistleblower invoking the Sarbanes-Oxley Act of 2002, 18 U.S.C. §1514A(a) (SOX) is not required to prove that his or her employer acted with...more

Lathrop GPM

Lower Burden of Proof for Whistleblowers Established in Landmark Supreme Court Case

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Recently, the Supreme Court of the United States issued a decision in Murray v. UBS Securities, LLC holding that whistleblowers are not required to prove their employer acted with “retaliatory intent” to be protected under...more

Miller Nash LLP

(We Can’t Have No) Retaliation: Part One—SCOTUS Clarifies Whistleblower Claims Standard under Sarbanes Oxley

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On February 8, 2024, the U.S. Supreme Court reversed a federal court of appeals decision, resolving a relatively recent federal appeals court split regarding the standard for liability in Sarbanes-Oxley whistleblower claims....more

Pietragallo Gordon Alfano Bosick & Raspanti,...

A “Plaintiff-Friendly” Standard For SOX Whistleblowers – A Helping Hand For FCA Relators?

On February 8, 2024, the US Supreme Court issued a unanimous opinion in Murray v. UBS Securities, LLC, No. 22-660 (U.S. 2024) restoring a $900K jury verdict in favor of a whistleblower under the Sarbanes-Oxley Act (SOX)...more

A&O Shearman

Supreme Court Rules Whistleblowers Need Not Prove Retaliatory Intent Under SOX

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On February 8, 2024, the Supreme Court of the United States unanimously held that whistleblower-plaintiffs need not prove that adverse employment actions were motivated by their employer’s retaliatory intent to obtain...more

Baker Donelson

U.S. Supreme Court Sides with SOX Whistleblower in Murray v. UBS Securities

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On February 8, 2024, the U.S. Supreme Court unanimously decided that an employee who blows the whistle under the Sarbanes-Oxley Act of 2002 (SOX) does not need to show that their employer had retaliatory intent to find...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

Supreme Court Rules ‘Retaliatory Intent’ Not Required for Securities Whistleblower Protection

On February 8, 2024, the Supreme Court of the United States issued a decision holding that whistleblowers are not required to show “retaliatory intent” to be protected under the Sarbanes-Oxley Act of 2002, differentiating the...more

Sherman & Howard L.L.C.

Supreme Court Confirms Corporate Whistleblowers Don't Have to Prove Retaliatory Intent

Tackling the tricky issue of how a plaintiff proves an employer's “intent,” in an opinion issued today, the United States Supreme Court unanimously held that under the Sarbanes-Oxley Act of 2002, corporate whistleblowers have...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2023

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2023 was another groundbreaking year for whistleblower litigation and bounty awards. The U.S. Securities and Exchange Commission shattered records by issuing a $279 million award and continued to actively enforce the...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments - October 2023

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Eleventh Circuit Adopts “Totality of the Circumstances” Test for Showing Protected Activity Under SOX and Denies Whistleblower Petition for Review - In Ronnie v. Office Depot, LLC, --- F.4th ----, 2023 WL 6210623 (11th Cir....more

Jackson Walker

White Collar Docket Check: US Supreme Court to Decide Key Administrative, Whistleblower, and Due Process Cases This Term

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The U.S. Supreme Court began its new term this week and is taking cases government enforcement practitioners will want to follow. Specifically, the Court will address issues concerning: the interplay between SEC...more

Kohn, Kohn & Colapinto LLP

Treasury and FinCEN are Taking the New AML Law Seriously

When President Biden signed the Anti-Money Laundering (AML) Whistleblower Improvement Act on December 29th, 2022, the Treasury Department had its work cut out for them. In the shadow of the highly successful Securities and...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2022

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2022 saw highly impactful whistleblower and retaliation events primarily resulting from an active U.S. Securities and Exchange Commission, an aggressive approach taken by the Occupational Safety and Health Administration, and...more

Dechert LLP

SEC Releases 2022 Enforcement Division Results

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The Securities and Exchange Commission (“SEC”) released an annual summary, on November 15, 2022, of actions brought by the Division of Enforcement (“Division”) over fiscal year 2022 (“Enforcement Summary”), providing an...more

A&O Shearman

Second Circuit Overturns $1 Million Whistleblower Award For Improper Jury Instruction

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On August 5, 2022, the United States Court of Appeals for the Second Circuit overturned a judgment of approximately $1 million awarded to a purported whistleblower after a jury determined in 2017 that the financial...more

Hanzo

Financial Data Compliance and Enterprise Information Archiving

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When it comes to making sure financial data is safe and meets compliance regulations, understanding the different regulatory bodies and how they affect your organization is a vital first step. Two of the most common...more

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events Of 2021

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2021 was another blockbuster year in the whistleblowing and retaliation arena. The U.S. Securities and Exchange Commission Office of the Whistleblower has now issued in excess of $1 billion in whistleblower bounties. ...more

Orrick, Herrington & Sutcliffe LLP

Largest Single Whistleblower Award Ever under Dodd Frank

The Commodity Futures Trading Commission awarded approximately $200 million to a single whistleblower earlier this month based on the individual’s “significant contribution” to the success of a CFTC action and two Related...more

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