Securities Exchange Act, Whistleblower Protection Policies

SEC Continues Scrutiny of Provisions That Might Impede Whistleblowers

WilmerHale on 9/19/2024

On September 9, 2024, the Securities and Exchange Commission (SEC) announced settled charges against seven public companies for violations of certain whistleblower protections provided by Rule 21F-17 under the Securities...more

CFPB Warns Employee NDAs, Confidentiality Agreements May Violate Whistleblower Laws

Ogletree, Deakins, Nash, Smoak & Stewart,... on 8/5/2024

On July 24, 2024, the Consumer Financial Protection Bureau (CFPB) issued guidance putting financial regulators and employers on notice that requiring employees to sign broad confidentiality or nondisclosure agreements that...more

Nutter Securities Enforcement Update: March 1, 2024

Nutter McClennen & Fish LLP on 4/5/2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

SEC Takes on Nondisclosure Agreements to Protect Whistleblower Program; Fines Firm $10 Million

Ogletree, Deakins, Nash, Smoak & Stewart,... on 1/29/2024

The U.S. Securities and Exchange Commission (SEC) in recent years has taken an aggressive stance against employers over employment agreements that the agency believes impede its whistleblower program—as highlighted by a $10...more

Eyes on 2024: Will the SEC Continue Its Aggressive Enforcement of Whistleblower Laws in 2024?

Bond Schoeneck & King PLLC on 1/17/2024

The Securities and Exchange Commission (the SEC or Commission) made clear in 2023 that it intends to aggressively enforce its whistleblower protection laws, namely Rule 21F-17, which prohibits employers from taking any action...more

Juggling Act: SEC Fines Three Employers for Potentially Discouraging Whistleblowers

Carlton Fields on 1/16/2024

The SEC has continued its enforcement against employers — including privately held companies — that have provisions in their agreements or policies that could potentially discourage whistleblowing or communications with...more

Employment Agreements in The SEC’s Cross-Hairs: What Employers Should Do Now

BCLP on 12/18/2023

Over the past several months, the U.S. Securities and Exchange Commission (“SEC”) has concluded several aggressive enforcement actions related to supposed violations of Rule 21F-17 under the Securities Exchange Act of 1934,...more

SEC Settlements Over Whistleblower Protections Pile Up

Holland & Knight LLP on 10/10/2023

As the SEC closed its fiscal year, it filed three separate enforcement actions against companies for purported violations of Rule 21F-17 under the Securities and Exchange Act of 1934, which prohibits persons from impeding...more

Companies Should (Again) Review Releases They Sign With Departing Employees—The SEC Is Not Going To Lose Interest In This Issue

SECIL Law on 9/21/2023

The U.S. Securities and Exchange Commission (“SEC”), in a couple of recent settled actions, continues to warn companies that the practice of requiring departing employees to sign comprehensive releases in return for...more

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

Holland & Knight LLP on 6/12/2023

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

Top 5 SEC Enforcement Developments for February 2023

Morrison & Foerster LLP on 3/17/2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources....more

How to Avoid Risk of SEC Whistleblower Rule Violations in Connection with Employee-related Documents

White & Case LLP on 3/8/2023

On February 3, 2023, the US Securities and Exchange Commission ("SEC") announced that a public company agreed to pay $35 million to settle charges of, among other things, violations of the whistleblower protection rule.1...more

Recent SEC enforcement relating to workplace misconduct

A&O Shearman on 3/8/2023

Only a few months into the new year and the U.S. Securities and Exchange Commission (SEC) has begun to wade into new waters with enforcement efforts focused on disclosure issues without traditional links to securities...more

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

Vinson & Elkins LLP on 2/8/2023

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

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

Holland & Knight LLP on 7/27/2022

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

Whistleblower Newsletter Q2 2022

Foley & Lardner LLP on 7/18/2022

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

Top 5 SEC Enforcement Developments for June 2022

Morrison & Foerster LLP on 7/11/2022

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary sources....more

A Client Alert About Client Alerts – SEC Cites Alerts In Issuing $400,000 Fine Related to Whistleblower Protections

Wiley Rein LLP on 6/30/2022

What: On June 22, 2022, the Securities and Exchange Commission (SEC) settled charges against The Brink's Company (Brinks) for requiring employees to sign confidentiality agreements that prohibited disclosure of any financial...more

SEC Fires Another Warning Shot on Confidentiality Agreements that Violate Whistleblower Provisions

Stinson - Corporate & Securities Law Blog on 6/23/2022

The SEC brought an enforcement action against The Brink’s Company for using confidentiality agreements that the SEC alleged violated Exchange Act Rule 21F-17. That rule prohibits any person from taking any action to impede an...more

SEC Whistleblower Protection Rule Not Restricted to Employee Whistleblowers

Kramer Levin Naftalis & Frankel LLP on 7/28/2021

On July 21, in S.E.C. v. Collector’s Coffee, Inc. et al.,[1] a New York federal court held that a Securities and Exchange Commission (SEC or Commission) whistleblower protection rule prohibiting actions to impede the...more

Will Europe Fail to Protect Whistleblowers?

Kohn, Kohn & Colapinto LLP on 6/4/2021

Pursuant to a Directive enacted by the European Parliament and Council, all 27 nations within the European Union (EU) must “bring into force” whistleblower protection “laws, regulations and administrative provisions” by...more

SEC Amends Whistleblower Program Rules

Proskauer - Whistleblower Defense on 10/8/2020

On September 23, 2020, by a vote of 3 to 2, the U.S. Securities and Exchange Commission announced the adoption of a final rule implementing several changes to its whistleblower program, citing the need to “provide greater...more

The New SEC Whistleblower Rules: Improving A Successful Program Or Undermining It?

Dorsey & Whitney LLP on 10/1/2020

The U.S. Securities and Exchange Commission’s (“Commission” or “SEC”) whistleblower program has, by all accounts, been a huge success. Added to the Securities Exchange Act of 1934 (“Exchange Act”) as Section 21F by the...more

SEC Amends Whistleblower Award Program Rules to Add Clarity, Efficiency and Transparency

BCLP on 9/29/2020

On September 23, 2020, the Securities and Exchange Commission (“SEC” or the “Commission”) voted 3-2 to adopt a series of long-awaited amendments to the rules governing its Whistleblower Program. SEC Chairman Jay Clayton along...more

A Review of Recent Whistleblower Developments

Foley & Lardner LLP on 1/29/2020

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

Securities Exchange Act › Whistleblower Protection Policies

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