ANTICORRUPTION DEVELOPMENTS –
U.S. Agencies Decline to Prosecute Teradata for Alleged FCPA Violations –
On February 26, 2018, Teradata Corporation, an Ohio-based enterprise software database management company, announced in its 10-K filing that the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) had both declined to prosecute the company for alleged misconduct at its subsidiary in Turkey. Teradata voluntarily disclosed the misconduct at issue to U.S. authorities in February 2017, informed the agencies of its internal investigation and remedial measures, and fully cooperated with the government’s subsequent inquiries.
Recent U.S. Supreme Court Decision Limits Whistleblower Protections Under Dodd-Frank –
On February 21, 2018, the U.S. Supreme Court issued a unanimous decision in Digital Reality Trust v. Somers, in which it held that the protections against retaliation for whistleblowers under Dodd-Frank apply only to whistleblowers who report violations to the SEC and not, for instance, to those who report violations of securities laws to their supervisors, as the SEC had interpreted the law to apply in its rulemaking.
Please see full Newsletter below for more information.