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Dodd-Frank Wall Street Reform and Consumer Protection Act › Whistleblowers › Corporate Counsel

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
BakerHostetler

Employers Beware: Broad Confidentiality and Severance Clauses May Violate Whistleblower Protection Laws

BakerHostetler on

Employers should check their confidentiality and severance agreements for a common oversight that, for some, is becoming a costly error. Recent enforcement activity by the Securities and Exchange Commission (SEC) of Rule...more

Seward & Kissel LLP

Employment Law Alert: Recent SEC Fines for Failure to Provide Whistleblower Protections

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Rule 21F-17 of the Securities Exchange Act of 1934 (“Rule 21F-17”), adopted under Dodd-Frank, prohibits employers from “tak[ing] any action to impede an individual from communication directly with [SEC staff] about a possible...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments - April 2023

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Whistleblower Developments is a periodic report covering significant cases, decisions, proposals, and legislation related to whistleblower statutes and how they may impact your business. Recent developments include: Third...more

Proskauer - Whistleblower Defense

Third Circuit Affirms Dismissal of Untimely SOX Whistleblower Claims

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On January 4, the Third Circuit affirmed the dismissal of a former bank executive’s whistleblower retaliation claims, holding that two procedural errors doomed his case: he sued before exhausting his administrative remedies;...more

Troutman Pepper

SEC "Levels Up" in $35M Resolution of Alleged Whistleblower Protection Violations and Compliance Program Failures Against...

Troutman Pepper on

On February 3, the U.S. Securities and Exchange Commission (SEC) announced that video game developer Activision Blizzard, Inc. (Activision) agreed to pay $35 million to settle accusations that it violated whistleblower...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Enforcement: 2022 Year in Review

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On the heels of record-breaking enforcement in 2022, expect continued aggressive pursuit of Chair Gensler’s priorities in 2023. The SEC will continue to bring its considerable resources to bear to address ESG-related...more

Wiley Rein LLP

SEC Annual Whistleblower and Enforcement Reports Signal Continued Aggressiveness in 2023 and Beyond

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On November 15, 2022 the U.S. Securities and Exchange Commission (SEC) released its Dodd-Frank Whistleblower Program fiscal year (FY) 2022 Annual Report to Congress. The same day, the SEC reported on the Enforcement...more

Kohn, Kohn & Colapinto LLP

Takeaways from the SEC Whistleblower Office’s Annual Report

Kohn, Kohn & Colapinto LLP on

Each year the U.S. Securities and Exchange Commission (SEC) Office of the Whistleblower releases an Annual Report to Congress detailing the activities of the highly successful SEC Whistleblower Program. The annual report for...more

Proskauer - Whistleblower Defense

CA District Court: SOX and Dodd-Frank’s Whistleblower Provisions Do Not Apply To Individual Employed Abroad

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On June 7, 2022, the United States District Court for the Northern District of California, relying on recent ARB decisions, held that a plaintiff who lived and worked for a Canadian subsidiary of a US company could not avail...more

A&O Shearman

CFTC Awards Record $200 Million To Whistleblower

A&O Shearman on

On October 21, 2021, the Commodity Futures Trading Commission (“CFTC”) announced it would be awarding a whistleblower its largest, publicly-announced single award under the Dodd-Frank whistleblower rewards program—nearly $200...more

Katten Muchin Rosenman LLP

Gensler-Led SEC Demonstrates Continued Support for Whistleblowers - Capital Markets Compass | Issue 1

Katten Muchin Rosenman LLP on

On August 5, the Securities and Exchange Commission (SEC) announced interim procedures effectively nullifying amendments to the SEC's whistleblower program adopted less than a year ago under former SEC Chairman Jay Clayton....more

Kohn, Kohn & Colapinto LLP

SEC Acts to Save the “Related Action” Whistleblower Rule

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On August 5, 2021, the U.S. Securities and Exchange Commission (SEC) issued a “ seeking to address regulatory roadblocks that have hindered the administration of the whistleblower reward program. This Statement follows just...more

Epstein Becker & Green

Back in the Saddle: SEC’s Whistleblower Program Is in Full Swing Under the Biden Administration

Epstein Becker & Green on

The Securities and Exchange Commission’s Whistleblower Program under the Biden administration has picked up where it left off under President Obama, aggressively enforcing Rule 21F-17(a) against employers whose policies may...more

Jones Day

Recent SEC Enforcement Action Stresses Importance of Not Impeding Whistleblower Communications with Regulators

Jones Day on

The Situation: The SEC has brought another in a growing list of whistleblower cases critical of entities for potentially attempting to impede an individual from communicating with the agency. In July 2010, the Dodd-Frank Wall...more

Jones Day

SEC Issues Largest-Ever Award of $114 Million to Individual Whistleblower

Jones Day on

The highest award in the history of the SEC whistleblower program is issued to an employee who repeatedly reported misconduct internally before alerting the SEC. On October 22, 2020, the U.S. Securities and Exchange...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments - October 2020

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SEC Whistleblower Program Rules Change - On September 23, 2020, the U.S. Securities and Exchange Commission (SEC) announced the adoption of a final rule in Release 34-89963 that changes several aspects of its whistleblower...more

Vinson & Elkins LLP

SEC Declares Discretion To Reduce Whistleblower Awards

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Dodd-Frank created the Securities and Exchange Commission’s (the “SEC” or “Commission”) whistleblower program, which allows the SEC to issue awards to eligible whistleblowers who provide original information that leads to...more

Littler

SEC Amends Whistleblower Award Program Rules

Littler on

With a vote split down party lines, on September 23, 2020, the Securities and Exchange Commission (SEC) approved several amendments to rules governing its Whistleblower Program. The purpose of the amendments, according to the...more

Thomas Fox - Compliance Evangelist

Why the Board of Directors Need an Investigation Protocol

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Many companies have an investigation protocol in place when a potential compliance or other legal issue arises. However, many Boards of Directors do not have the same rigor when it comes to an investigation, which should be...more

Proskauer - Whistleblower Defense

CFTC Issues $6 Million Whistleblower Award

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On June 9, 2020, the U.S. Commodity Futures Trading Commission (CFTC) announced a $6 million whistleblower award to an individual under its Dodd-Frank whistleblower program. The individual was rewarded for voluntarily...more

Jones Day

SEC Announces Five Whistleblower Awards Totaling $54 Million Since April 1, 2020

Jones Day on

The Situation: The Securities and Exchange Commission ("SEC") has announced a string of substantial whistleblower awards totaling $54 million since April 1, 2020. The Result: The financial incentives for employees or third...more

Orrick - Employment Law and Litigation

SEC Whistleblower Program Going Strong During Coronavirus

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Notwithstanding the current COVID-19 crisis, the Securities & Exchange Commission has continued to award numerous multi-million-dollar bounties under its Dodd-Frank whistleblower program....more

Orrick - Employment Law and Litigation

The Whistle Keeps Blowing: SEC Whistleblower Office Releases Its 2019 Annual Report

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The SEC’s Office of the Whistleblower (“OWB”) released its Fiscal Year 2019 Annual Report (the “Report”) to Congress on the Dodd-Frank Whistleblower Program on November 15, 2019....more

UB Greensfelder LLP

[Webinar] The Anatomy of a Whistleblower Action: Procedure, Practice Pointers, and Avoiding Pitfalls - December 5th, 2:00 pm ET

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Jeff Dunlap and Brad Sobolewski will discuss differentiating the defenses, remedies, and procedures applicable to Sarbanes-Oxley and Dodd-Frank whistleblower actions, and much more....more

Womble Bond Dickinson

Senate Bolsters Protections for Antitrust Whistleblowers

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On October 17, the United States Senate passed S.2258, the Criminal Antitrust Anti-Retaliation Act of 2019 (“CAARA”). If enacted, it would amend the 2004 Antitrust Criminal Penalty Enhancement and Reform Act, which limited...more

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