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2014 Top 10 SEC Enforcement Highlights

Mary Jo White was confirmed in April 2013 as Chair of the Securities and Exchange Commission (the “SEC”), becoming the first former United States Attorney to serve in that role. Given her background, and despite criticism...more

Credit Crunch Digest - December 2014

This issue of the Credit Crunch Digest focuses on Libor civil penalties; three former ICAP brokers pleading not guilty to criminal Libor charges; a large whistle-blower award to a former Countrywide Financial Corp. executive;...more

Consumer Financial Product Whistleblower Claims on the Rise

Since the Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted in 2010, there has been a significant rise in complaints filed under the Consumer Financial Protection Act (CFPA), with a corresponding drop of...more

Consumer Financial Product Whistleblower Complaints Up Dramatically, SOX Complaints (with OSHA) Down

Since the enactment of Dodd-Frank in 2010, the number of whistleblower complaints filed under the Consumer Financial Protection Act (“CFPA”) has risen significantly while the number of SOX complaints filed with OSHA has...more

A Review of Recent Whistleblower Developments

SEC Whistleblower Office 2014 Annual Report Details Rising Number of Tips and Increasing Awards - On November 17, 2014, the U.S. Securities and Exchange Commission (SEC) Whistleblower Office issued its Fiscal Year 2014...more

Trends in N.J. Whistleblowing and Retaliation Law – 2014 Roundup

2014 was another busy year for developments in whistleblowing and retaliation law in New Jersey. This blog post summarizes noteworthy state and federal cases for employers to consider in the new year....more

Overview of Compliance Concerns Raised by Recent U.S. SEC Whistleblower Developments

The recent release of the Securities and Exchange Commission’s (SEC) annual report to Congress on the Dodd-Frank Whistleblower Program highlights the growing reliance of U.S. Government authorities on whistleblowers to...more

SDNY Follows Asadi: Internal Tipsters Not Dodd-Frank “Whistleblowers”

On December 5, 2014, the Southern District of New York in Berman v. Neo@Ogilvy, No. 14-cv-523, ruled that an employee who complains internally about securities law violations does not qualify as a “whistleblower” under the...more

SEC’s Second Amicus Brief On Whether Dodd-Frank Protects Internal Reports

On December 11, 2014, the SEC filed an amicus brief in support of Plaintiff-Appellant Mikael Safarian asking the Third Circuit to revive his Dodd-Frank whistleblower claim and endorse the agency’s definition of...more

When Does an Anti-Arbitration Provision Not Prohibit Arbitration of a Dodd-Frank Whistleblower Claim?

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010, provides broad whistleblower protections to individuals who report certain possible violations of federal securities laws. Mindful that...more

Whistleblowers Gone Global – International Implications of the Dodd-Frank Whistleblower Programmes

Organisations in the U.K. breathed a collective sigh of relief this summer when the commission formed by the Bank of England and the U.K. Financial Conduct Authority (FCA) recommended against the implementation of U.S.-style...more

Third Circuit Affirms Whistleblowers Must Arbitrate Under Dodd-Frank

On December 8, the U.S. Court of Appeals for the Third Circuit held that application of Dodd-Frank’s Anti-Arbitration provision did not apply to causes of action asserted under the Anti-Retaliation Dodd Frank Provision due to...more

SEC Seeks To “Overrule” Fifth Circuit Whistleblower Interpretation

In Asadi v. G.E. Energy United States, L.L.C., 720 F.3d 620 (5th Cir. 2013), the Fifth Circuit Court of Appeals held that an employee who reported a suspected Foreign Corrupt Practices Act violation internally but not to the...more

3d Cir.: Dodd-Frank Anti-Arbitration Provisions Do Not Apply To Dodd-Frank Whistleblower Retaliation Claims

On December 8, 2014, the Third Circuit ruled that Dodd-Frank’s anti-arbitration provisions do not invalidate pre-dispute arbitration agreements with respect to whistleblower retaliation claims brought pursuant to the...more

SEC Reports FY 2014 as a Historic Year for Whistleblower Program

According to the annual report issued by the Securities and Exchange Commission (SEC), fiscal year 2014 was a "historic" one for the whistleblower program initiated pursuant to the 2010 Dodd-Frank Wall Street reform law. In...more

The Split Deepens: New York District Court Holds Internal Reporting Not Protected Under Dodd-Frank

In Berman V. Neo@Ogilvy LLC, 1:14-cv-523 (Dec. 4, 2014), Judge Gregory Woods of the Southern District of New York dismissed a Dodd-Frank whistleblower retaliation claim on the ground that internal reporting is not protected...more

Third Circuit Issues First Appellate Decision Compelling Arbitration of Dodd-Frank Whistleblower Claim

In Khazin v. TD Ameritrade, No. 14-1689, 2014 WL 6871393 (3rd Cir. Dec. 8, 2014), the Third Circuit affirmed a lower court’s decision compelling arbitration of a Dodd-Frank whistleblower retaliation claim. This is the first...more

SEC Releases 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program

By all accounts, 2014 was a year of tremendous success for the SEC’s Dodd-Frank Whistleblower Program. According to its 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program, the SEC paid nine whistleblower...more

2014 Global Ethics Benchmarking Report Reveals Workplace Retaliation On The Rise

We recently released our 2014 Global Ethics Benchmarking Report, an annual report that contains a thorough analysis of the previous five years of whistleblower hotline reporting data, that gives the market insight into...more

SEC’s 2014 Report on Dodd-Frank Whistleblowing Program: Key Takeaways and Trends Companies Should Expect for 2015

On November 17, the U.S. Securities and Exchange Commission issued its 2014 Annual Report to Congress on the Dodd-Frank Whistleblower Program and it is clear that the program is going strong. Following are six key takeaways...more

SEC Describes Profiles of Successful Whistleblowers

In its 2014 Report to Congress on the Dodd-Frank Whistleblower Program, the SEC described the profile of successful whistleblowers. Because the SEC must keep the identity of whistleblowers confidential, it can only describe...more

Court Follows 5th Circuit Asadi Decision, Dismisses Dodd-Frank Whistleblower Claim

The U.S. District Court for the Eastern District of Wisconsin in Verfuerth v. Orion Energy Systems, Inc., No. 14-cv-352 (E.D. Wis. Nov. 4, 2014) recently ruled that the Dodd-Frank whistleblower protection provision does not...more

SEC Whistleblower Office Reaches Three-Year Anniversary

The United States Securities and Exchange Commission’s Office of the Whistleblower has only been open since August 2011, yet it has already made a pretty big name for itself in protecting the rights of whistleblowers and...more

California Court Allows Dodd-Frank Whistleblower Claims to Proceed Despite Absence of Complaint to SEC

In a case of first impression within the Ninth Circuit, the U.S. District Court for the Northern District of California ruled that the whistleblower protection provision in Dodd-Frank protects whistleblowers who report...more

A Royal Fan Responds: Russ Berland on the SEC Financial Report for FY 2014

Ed. Note-today we have a guest post from KC Royals fan and Stinson Leonard Street partner Russ Berland. As a Kansas City Royals fan, I would like to use this opportunity to congratulate the Royals on a great season...more

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