News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Whistleblowers Enforcement Actions

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 -
Ballard Spahr LLP

Are Whistleblower Protection Violations the New SEC Sweep?

Ballard Spahr LLP on

The Securities and Exchange Commission (SEC) continues to investigate companies for including language in their employment and separation agreements or retail client settlement agreements that potentially discourages...more

Kohn, Kohn & Colapinto LLP

False Narratives Around False Whistleblower Reporting: Finding the 0.0027%

Critics of whistleblower award laws commonly claim that whistleblower awards will lead to frivolous and speculative complaints aimed at damaging the reputation of individuals or companies. However, a close look at the data...more

Orrick, Herrington & Sutcliffe LLP

SEC awards whistleblower more than $37M

On July 17, the SEC announced an award totaling more than $37 million to a whistleblower whose information and assistance significantly contributed to a successful SEC enforcement action. ...more

Kohn, Kohn & Colapinto LLP

OECD Recommendations and U.S. Anti-Corruption Strategy Show U.S. Should Award Whistleblowers who Report to Media

Both the Organisation for Economic Co-operation and Development (OECD) and the U.S. Strategy on Countering Corruption recognize that the news media plays a vital role in the detection of bribery and other acts of corruption...more

DarrowEverett LLP

Actions vs. J.P. Morgan, Monolith Serve as SEC Compliance Check Reminders

DarrowEverett LLP on

The Securities and Exchange Commission (SEC) recently settled charges against J.P. Morgan Securities LLC (JPMS) for impeding hundreds of advisory clients and brokerage customers from reporting potential securities law...more

Kohn, Kohn & Colapinto LLP

SEC’s Record Sanction Against JP Morgan for Impeding Whistleblowing is a Major Step

On January 16, the U.S. Securities and Exchange Commission (SEC) announced a record $18 million sanction against JP Morgan for Rule 21F-17(a) violations, sending the strongest message yet that the SEC is cracking down on...more

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

Troutman Pepper

SEC's Whistleblower Program Sees Record Increase in Tips but Fewer Payouts

Troutman Pepper on

Despite a 50% increase in whistleblower tips over fiscal year (FY) 2022, the number of whistleblowers who received awards from the Securities and Exchange Commission (SEC) decreased significantly in FY 2023. This trend...more

Kohn, Kohn & Colapinto LLP

Using Whistleblower Laws to Hold Polluters Accountable

Global political and business leaders have purported ambitious climate-focused goals for the decades ahead, such as eliminating landfill waste by 2030, transitioning to 100% renewable energy use by 2035, and achieving...more

Kohn, Kohn & Colapinto LLP

SEC, CFTC Pass $2 Billion Award Milestone but Reforms are Still Needed

Combined, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have awarded more than $2 billion to whistleblowers. The agencies’ whistleblower programs, which were created...more

Alston & Bird

SEC Enforcement Director Clarifies Compliance Violation and CCO Liability

Alston & Bird on

Our Investment Funds and White Collar Teams interpret how the Securities and Exchange Commission approaches its enforcement in three aspects: whistleblower restraints, self-reporting and cooperation, and compliance officer...more

Kohn, Kohn & Colapinto LLP

The SEC is Receiving More Whistleblower Tips than Ever, Underscoring Importance of Reform

On October 25, Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), revealed that in the 2023 Fiscal Year the SEC Whistleblower Program the SEC Whistleblower Program received 18,000 whistleblower tips, a...more

Thomas Fox - Compliance Evangelist

Pre-Taliation Continues to Rear It’s Ugly Head

DE Shaw, a prominent financial services firm, recently settled a retaliation case with the Securities and Exchange Commission (SEC) for a staggering $10 million. It was settled via an Administrative Order. This settlement...more

Proskauer - Corporate Defense and Disputes

SEC’s Whistleblower Program Grants Fourth Largest Award in its History

On August 4, 2023, the Securities and Exchange Commission announced awards totaling more than $104 million to seven whistleblowers in connection with a successful SEC enforcement action. The SEC’s Press Release can be found...more

Paul Hastings LLP

Recent Whistleblower Activity Increases Pressure on Internal Reporting and Investigation Mechanisms

Paul Hastings LLP on

On May 5, 2023, the Securities and Exchange Commission (“SEC”) granted its largest-ever whistleblower award of $279M to an individual, reportedly stemming from Ericsson’s $1.1B settlement to resolve claims that the...more

Holland & Knight LLP

SEC to Issuers: Retaliating Against or Impeding Whistleblowers Is Not Zen

Holland & Knight LLP on

Public companies should be mindful not to interfere with or retaliate against whistleblowers, and stretching is best reserved for the yoga mat, not the numbers in a company's public disclosures. So says the U.S. Securities...more

BCLP

SEC penalizes company with good disclosures for insufficient controls

BCLP on

What happened? In a recent settlement order, the SEC charged Activision Blizzard with failing to maintain adequate disclosure controls and procedures. Notably, the SEC did not claim that the company’s SEC filings were...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

Wiley Rein LLP

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

Wiley Rein LLP on

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

FTX’s Collapse Highlights Importance of Cryptocurrency Whistleblowers

The sudden collapse of the cryptocurrency exchange FTX has heightened concerns over the lack of regulations for the cryptocurrency market. Commentators quickly compared FTX’s collapse to the Enron scandal and the 2008...more

Holland & Knight LLP

Overblown? SEC's Aggressive Enforcement of Rule 21F-17 for Whistleblower Protection

Holland & Knight LLP on

Section 21F, titled "Whistleblower Incentives and Protection," is a set of provisions within the Securities Exchange Act of 1934 that govern, among other things, the rights and obligations of SEC whistleblowers and the...more

Foley & Lardner LLP

Whistleblower Newsletter Q2 2022

Foley & Lardner LLP on

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:...more

Proskauer - Whistleblower Defense

D.C. Circuit: No Award to Whistleblower Who Made Disclosure Before Enactment of SEC’s Whistleblower Program

On May 27, 2022, the D.C. Circuit Court of Appeals affirmed an order by the Securities and Exchange Commission (“SEC”) denying a whistleblower award under the Dodd-Frank Wall Street Reform and Consumer Protection Act...more

Hanzo

Financial Data Compliance and Enterprise Information Archiving

Hanzo on

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

Kohn, Kohn & Colapinto LLP

Whistleblowers Key to Combating Cryptocurrency Fraud

In September 2021, the market capitalization for digital assets, such as cryptocurrencies and NFTs, was valued at $2.14 trillion. The cryptocurrency market has attracted a variety of fraudulent activities in which the...more

163 Results
 / 
View per page
Page: of 7

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide