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Internal Investigations Securities and Exchange Commission (SEC) Whistleblower Protection Policies

Society of Corporate Compliance and Ethics...

Andy Dunbar and Nick Morgan on What the SEC Expects from Your Internal Investigation

What does the SEC expect from an internal investigation? It’s a topic that Nick Morgan, partner, Paul Hastings and Andy Dunbar, Chief Compliance Officer, Herbalife Nutrition tackle in this podcast and will be addressing at...more

Proskauer - Whistleblower Defense

SDNY: SOX Whistleblower Protections Extend to Investors

On July 21, 2021, the U.S. District Court for the Southern District of New York held that the whistleblower protections established in SOX are not restricted to employee whistleblowers, but also extend to shareholders.  SEC...more

Proskauer - Whistleblower Defense

Third Circuit Confirms Limits on Scope of Protected Activity Under SOX

On July 16, 2020, the Third Circuit affirmed the dismissal of a former IT analyst’s whistleblower retaliation claim, holding that he lacked an objectively reasonable belief that his complaints implicated one of the enumerated...more

Proskauer - Whistleblower Defense

SEC Awards Whistleblower More Than $4.5 Million

On May 24, 2019, the SEC announced payment of more than $4.5 million to a whistleblower who sent an anonymous tip to the company alleging significant wrongdoing and then submitted the same information to the SEC....more

Stinson - Corporate & Securities Law Blog

SEC Awards First Ever $4.5 Million to Internal Whistleblower

The SEC awarded more than $4.5 million to a whistleblower whose tip triggered the company to review the allegations as part of an internal investigation and subsequently report the whistleblower’s allegations to the SEC and...more

Thomas Fox - Compliance Evangelist

Day 7 of One Month to Better Investigations and Report-How Investigations Inform Remediation

There is nothing like an internal whistleblower report about a FCPA violation, the finding of such an issue or (even worse) a subpoena from the DOJ to trigger the Board of Directors and senior management attention to the...more

Farella Braun + Martel LLP

Revenge of the Whistle-blower: Possible Consequences of Compliance Failures

In a company with a robust compliance culture, potential whistleblowers can express their concerns without fear of retribution. By contrast, the penalty for a culture that silences whistleblowers just got steeper. Companies...more

Thomas Fox - Compliance Evangelist

Hallmark 8-Confidential Reporting and Internal Investigations

The FCPA Guidance has about as clear, concise and short a statement about hotlines than any other Tenet of an Effective Compliance Program. It states, “An effective compliance program should include a mechanism for an...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - November 2015

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases and enforcement trends, including developments in U.S. Foreign Corrupt Practices Act enforcement; the introduction of...more

Foley & Lardner LLP

A Review of Recent Whistleblower Developments

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SEC Awards Another Whistleblowing Compliance Officer - On April 22, 2015, the Securities and Exchange Commission (SEC) announced an award between $1.4 and $1.6 million to a compliance officer who provided information...more

Thomas Fox - Compliance Evangelist

King Arthur Week – The Green Knight and the Protection of Whistleblowers – Part IV

We continue our King Arthur themed week with an exploration of one of the most interesting characters in the Arthur canon, The Green Knight, so called because his skin and clothes are green. The meaning of his greenness has...more

WilmerHale

SEC Applies Whistleblower Interference Rule to Corporate Confidentiality Requirement

WilmerHale on

On April 1, the US Securities and Exchange Commission issued—in a settled administrative proceeding—a cease-and-desist order in In the Matter of KBR, Inc., directing that the respondent cease violating Commission Rule...more

Wilson Sonsini Goodrich & Rosati

SEC Joins Agency Attack on Confidentiality Clauses in Employee-Related Agreements and Policies

In a recent enforcement action, the Securities and Exchange Commission (SEC) took action against a company for "using improperly restrictive language in confidentiality agreements with the potential to stifle the...more

Franczek P.C.

Confidentiality Clauses Under Increasing Scrutiny by Federal Agencies

Franczek P.C. on

The Securities and Exchange Commission (SEC) has become the latest federal agency to challenge the legality of employee confidentiality requirements. Earlier this month, the SEC instituted its first administrative proceeding...more

Epstein Becker & Green

SEC Enforcement Gives Employers a Strong Incentive to Clarify That Their Confidentiality Agreements Do Not Preclude Reporting...

Epstein Becker & Green on

The Securities and Exchange Commission? (“SEC”) has resolved its first enforcement action regarding a potentially overreaching confidentiality agreement following the “voluntary” revision of the agreement to state that it...more

Blank Rome LLP

Beware of Confidentiality Agreements with Employees; Make Sure They Don’t Stifle Whistleblowing

Blank Rome LLP on

On April 1, 2015, the SEC announced its first enforcement action against a company for utilizing language in a confidentiality agreement which could discourage whistleblowing....more

Manatt, Phelps & Phillips, LLP

Corporate Investigations & White Collar Defense - April 2015

It’s Stifling in Here! SEC Rules That Companies Can’t Put Restrictive Language in Confidentiality Agreements That Could Potentially Stifle Whistleblowers - Why it matters: On April 1, 2015, the SEC announced its...more

Baker Donelson

Can You Keep a Secret? The SEC Says to Ask Carefully

Baker Donelson on

Employers have a lot to be worried about. Employees are given access to trade secrets, customer lists, financial accounts, and other highly sensitive, confidential information. Most employers attempt to deter improper use of...more

Sheppard Mullin Richter & Hampton LLP

SEC Takes Aggressive Approach to Fortify Dodd-Frank’s Whistleblower Rules

On April 1, 2015, the Securities & Exchange Commission (the “SEC” or “Commission”) fined a public company $130,000 for requiring employees involved in internal investigations to sign a confidentiality agreement that the...more

Epstein Becker & Green

Five Key Issues Confronting Financial Services Industry Employers

Epstein Becker & Green on

Employers in the financial services industry are faced with a growing number of employment law challenges. Whistleblower complaints are on the rise as regulatory agencies become more aggressive in their efforts to encourage...more

Goodwin

SEC Applies Whistleblower Protections to Confidentiality Arrangements

Goodwin on

Public companies should review their confidentiality arrangements for any provisions that may result in unintended violations of the Dodd-Frank Act’s whistleblower protections....more

Stoel Rives LLP

In Case You Missed It - Interesting Items for Corporate Counsel - April 2015

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We knew someone would do this for us if we just waited long enough. A summary of early trends in proxy access responses suggests most are including the shareholder proposal and recommending a no vote. See here. Only a single...more

Foley & Lardner LLP

SEC Blows the Whistle on Confidentiality Agreements

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Thanks to a recent enforcement action brought by the U.S. Securities and Exchange Commission (SEC), it may be time to review and revise the confidentiality provisions in employment agreements, severance agreements, employee...more

Winstead PC

The SEC Joins the NLRB and EEOC in the Assault on Employee Confidentiality Agreements and Policies in Workplace Investigations

Winstead PC on

On April 1, 2015, the United States Securities and Exchange Commission (SEC) announced its first settlement of a whistleblower enforcement action against a company for using confidentiality agreements to stifle the...more

Holland & Knight LLP

In-House Counsel Risk SEC Enforcement for Some Confidentiality Agreements - Following Best Practices as Part of a Comprehensive...

Holland & Knight LLP on

Confidentiality agreements are boilerplate in many legal departments, but they shouldn't be. In-house counsel need to review all currently effective confidentiality agreements with anyone who could potentially be a...more

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