News & Analysis as of

First-Ever SEC Bounty Winner Receives Additional Payout

The SEC Office of the Whistleblower recently announced that the first-ever whistleblower award under the Dodd-Frank Whistleblower Program will be increased by $150,000 based on additional assets the SEC collected from one the...more

Arbitration Agreements and Whistleblower Protections

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 directed the SEC to establish a “bounty program” for certain individuals who voluntarily provide the SEC with original information that leads to successful...more

Dodd-Frank News - March 2014: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

In This Issue: - Recent Cases January Through March 2014 ..Dodd-Frank Amendments to RESPA ..Dodd-Frank Prohibition on Arbitration Clauses ..Whistleblower Protection Under Dodd-Frank - News &...more

N.J. Court Sends Dodd-Frank Whistleblower Claim To Arbitration

The U.S. District Court for the District of New Jersey recently held that the Dodd-Frank Act does not operate retroactively to bar pre-dispute arbitration agreements, and thus required a plaintiff to arbitrate his Dodd-Frank...more

SEC’s Amicus Brief: Internal Whistleblower Reports Covered By Dodd-Frank Anti-Retaliation Provision

As we previously discussed, courts have struggled with determining the scope of the protections in Dodd-Frank’s anti-retaliation provisions. On the one hand, Dodd-Frank defines a “whistleblower” as any individual, or group of...more

More CNIL Guidance for Multinationals Seeking to Comply with SOX & Dodd-Frank

United States employers operating in France often face a dilemma. While they may be bound by the whistleblowing requirements of the Sarbanes-Oxley Act ("SOX") and its Dodd-Frank amendments,1 they also are bound by the data...more

Where the Whistle Blows: SEC Invites Circuit Split Over Reach of Dodd-Frank Anti-Retaliation Provision

The Securities and Exchange Commission recently weighed in on a whistleblower case pending in the Second Circuit, urging the court in Liu v. Siemens, A.G. to adopt the SEC’s interpretation of the Dodd-Frank Act’s...more

SDNY Holds Whistleblowers Not Entitled To Retroactive Application Of Dodd-Frank Protections

On February 21, the U.S. District Court for the Southern District of New York held that the Dodd-Frank Act’s whistleblower protection provisions could not be applied retroactively to an alleged retaliation that occurred...more

From FCPA to Export Compliance: Avoiding the Slippery Slope to a Compliance Violation

The second half of 2013 saw the continued expansion of FCPA enforcement by the DOJ and the SEC. The decrease in the scope of protections afforded to whistleblowers will lead to an increase in the number of FCPA potential...more

Board Investigations And The Curse Of The Mummy’s Tomb – Part II

Yesterday I began an exploration of a recent article in the Corporate Board magazine, entitled “Successful Board Investigations” by David Bayless and Tammy Albarrán, partners in the law firm of Covington & Burling LLP. In...more

Reading between the Headlines: A Lesson in Risk Mitigation from Edward Snowden

Whistleblowing has become a highly charged term, stirring up emotive rhetoric ranging from “ethical hero” to “treasonous traitor” with very little substantive evaluation of the real impact on the corporation and the broader...more

SEC’s Strategic Plan Includes Reliance On Whistleblower Tips

The U.S. Securities and Exchange Commission (SEC) published (for public comment) a draft strategic plan, which sets forth its goals and objectives for fiscal years 2014 through 2018. The SEC’s “strategic objectives” include:...more

On a “Clear and Convincing Day”: The Administrative Review Board Gives Employers Some Helpful Guidance

As we have discussed in earlier posts, the Administrative Review Board (ARB) has, over the last couple of years, issued a number of opinions signaling a decidedly employee-friendly interpretation of the whistleblower statutes...more

New Whistleblower Protections Now In Effect For Federal Contractors

By now, most federal contractors are aware of the new regulations that go into effect on March 24 requiring federal contractors and subcontractors to take affirmative action to recruit, hire, promote, and retain protected...more

Dodd-Frank News: January 2014: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

In This Issue: - Recent Cases ..Dodd-Frank Prohibition on Yield Spread Premiums ..Dodd-Frank Prohibition on Arbitration ..Whistleblower Protection Under the Dodd-Frank Act ..Dodd-Frank Amendments to...more

Bon Voyage! Dodd Frank Whistleblower Claim Shipped to Arbitration

In Murray v. UBS Securities, LLC, Judge Failla in the Southern District of New York compelled arbitration of a Dodd-Frank whistleblower retaliation claim, holding that nothing in the anti-retaliation provision, 15 U.S.C....more

For Whom The Whistle Tolls In 2014

Momentum for the SEC’s Dodd Frank whistleblower program is growing, and 2014 can be expected to bring continued expansion of the program and the number and types of whistleblower actions initiated by the SEC. The SEC’s...more

White Collar Watch - January 2014

In This Issue: - SEC’s Dodd-Frank Whistleblower Program Report shows best practices make for an effective compliance and ethics program - In unprecedented move, government seeks to extend the responsible...more

Department of Labor Whistleblower Update

In recently released decisions, the DOL Administrative Review Board took further action in two whistleblower actions of interest to employers. No Answer on Whether Stealing Confidential Data Is Protected – But a Silver...more

False Claims Act Whistleblower Bounties Exceed $345 Million in Fiscal Year 2013

The DOJ has released its Fiscal Year (“FY”) 2013 totals for civil settlements and judgments recovered under the federal False Claims Act (“FCA”). To say that the Department had a successful year in prosecuting fraud against...more

New Protections for Whistleblowers and Suspected Undocumented Workers Take Effect January 14, 2014

The California Legislature had a busy year in 2013 and produced a great deal of employment-related legislation which just took effect on January 1. Because retaliation claims against employers have been on the rise for...more

2014 Trends: #3 Whistleblowing and Retaliation: Both on the Rise

A continuation of our recent coverage on ethics and compliance trends to watch in 2014, we’re taking a deeper look at whistleblowing and retaliation trends today. ...more

Take 5 Newsletter: Five Hot Topics for Financial Services Industry Employers

The economy may be improving, but challenges remain for employers in the financial services industry. From ever-increasing whistleblower claims to new diversity and inclusion regulations and recent IRS determinations...more

Another Bestseller: The SEC’s Examination Priorities for 2014

Following closely on the heels of FINRA’s publication of its examination priorities for 2014 (see our recent client alert), OCIE’s National Exam Program (NEP) released a summary of its 2014 priorities. OCIE’s priorities...more

SEC enforcement cases to increase in 2014: 4 things public companies need to know

A casual observer of SEC trends could be forgiven for concluding that the SEC has lost interest in pursuing enforcement actions involving public company financial reporting violations. But the casual observer would be...more

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