News & Analysis as of

Securities and Exchange Commission (SEC) Dodd-Frank Wall Street Reform and Consumer Protection Act Securities Violations

Patterson Belknap Webb & Tyler LLP

Takeaways from the SEC Division of Enforcement’s FY 2024 Report

On November 22, 2024, the Securities and Exchange Commission (the “SEC”) published its enforcement results for fiscal year of 2024. The report shows a mixed result. The SEC only brought 583 actions in FY 2024, a 26% decrease...more

Wiley Rein LLP

Ep. 3 - The Art of Parallel Investigations (Part 2)

Wiley Rein LLP on

In the second installment of this two-part interview, host Kevin Muhlendorf continues the conversation on the complexities of parallel investigations with Brian Young, Director of the Whistleblower Office at the Commodity...more

Foley & Lardner LLP

SEC’s Focus on Whistleblower Protection Practices Continues

Foley & Lardner LLP on

On September 9, 2024, the U.S. Securities and Exchange Commission (SEC) announced that it settled charges against seven public companies for alleged violations of Securities Exchange Act Rule 21F-17. According to the SEC,...more

Seward & Kissel LLP

Recent SEC Enforcements for Violations of Whistleblower Protection Rule

Seward & Kissel LLP on

On September 9, 2024, the Securities and Exchange Commission (“SEC”) announced it settled enforcement actions against seven public companies for alleged violations of its whistleblower protection rule in their...more

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

Goodwin

U.S. Supreme Court Significantly Curtails SEC Enforcement Forum Discretion

Goodwin on

On June 27, 2024, the United States Supreme Court issued a much-anticipated decision in Securities and Exchange Commission v. Jarkesy, holding that parties subject to an enforcement action brought by the U.S. Securities and...more

Goodwin

Key Questions for the Upcoming Private Funds Rules Fifth Circuit Decision

Goodwin on

As a reminder, the Securities and Exchange Commission (SEC) and the National Association of Private Fund Managers (NAPFM) and the other Petitioners in the Private Funds Rules Litigation1 requested that the three-judge panel...more

Oberheiden P.C.

A Handbook for SEC Whistleblowers

Oberheiden P.C. on

The U.S. Securities and Exchange Commission’s (SEC) Whistleblower Program was created in Section 922 of the Dodd-Frank Act of 2010, which amended the Securities Exchange Act to include a whistleblower provision. It has since...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

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 Locke

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

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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

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events of 2023

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2023 was another groundbreaking year for whistleblower litigation and bounty awards. The U.S. Securities and Exchange Commission shattered records by issuing a $279 million award and continued to actively enforce the...more

Akerman LLP - HR Defense

Jingle All the Way to the SEC: Employers (Even Privately Held) Under Scrutiny for Language in Separation Agreements Impeding SEC...

While jingle bells have only just begun to ring, the U.S. Securities and Exchange Commission (SEC) enforcement bells have been ringing steadily throughout year. In recent months, the SEC announced significant settlements with...more

Freiberger Haber LLP

Enforcement News: SEC Charges Investment Advisor With Violating Whistleblower Protection Rule

Freiberger Haber LLP on

We have often written about the SEC’s whistleblower program and, in particular, the success of the program with respect to detecting and preventing violations of the federal securities laws. The success of the program...more

Seward & Kissel LLP

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

Seward & Kissel LLP on

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

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

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

Katten Muchin Rosenman LLP

SEC’s ESG Task Force Strikes Again

Activision Blizzard Workplace Misconduct Allegations Transformed into Securities Violations - In another victory for the Securities and Exchange Commission’s (SEC) Climate and ESG Task Force, videogame developer...more

Vinson & Elkins LLP

Disclosure Controls and Whistleblower Provisions Remain a Priority: What Activision Blizzard’s $35 Million Workplace Misconduct...

Vinson & Elkins LLP on

On February 3, 2023, the Securities and Exchange Commission (“SEC”) announced that Activision Blizzard Inc. (“Activision”) — the publicly traded video game developer and publisher of such well-known videogames as “Candy...more

Goodwin

SEC Adopts Amendments to Whistleblower Program Rules

Goodwin on

Regulatory Developments - SEC Adopts Amendments to Whistleblower Program Rules - On August 26, the SEC adopted two amendments to the rules governing its whistleblower program, which are covered under Section 922 of...more

The Volkov Law Group

SEC Modifies Whistleblower Regulations

The Volkov Law Group on

The SEC has a long list of priorities and a full agenda.  One issue on its list was to address changes needed to the SEC’s whistleblower program. ...more

Husch Blackwell LLP

The Justice Insiders: The Administrative State is Not Your Friend - A Conversation with Professor Richard Epstein

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In this episode of The Justice Insiders, we welcome Richard A. Epstein, Laurence A. Tisch Professor of Law at NYU School of Law. Host Gregg Sofer and co-host Steve Renau explore with Professor Epstein the implications...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

Proskauer Rose LLP

Top 10 Whistleblowing and Retaliation Events Of 2021

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2021 was another blockbuster year in the whistleblowing and retaliation arena. The U.S. Securities and Exchange Commission Office of the Whistleblower has now issued in excess of $1 billion in whistleblower bounties. ...more

Katten Muchin Rosenman LLP

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

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

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