News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Anti-Retaliation Provisions

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 -
Cadwalader, Wickersham & Taft LLP

The Whistleblower Rules & Revisiting Confidentiality

The Securities Exchange Commission ("SEC") has, in furtherance of its whistleblower program, taken actions recently that have led to lenders updating the confidentiality sections of credit agreements to allow for the...more

Mitratech Holdings, Inc

Ethics on the Line: Hotlines in Canada vs. the US; the Impact of the Whistleblower Act on Corporate Culture

We’ve talked before about how speak-up culture is on the rise; 6,000 more anonymous hotline reports were filed in 2023 than 2022, according to the respondent of Mitratech’s 2024 State of Ethics Reporting Hotlines....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

Littler

Littler Lightbulb: February Appellate Roundup

Littler on

This Littler Lightbulb highlights some of the more significant employment law developments at the U.S. Supreme Court and federal courts of appeal in the last month....more

Troutman Pepper Locke

Top 10 Tips for Drafting Whistleblower Compliant Arrangements

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Background - Under Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Congress expanded protections for whistleblowers reporting possible violations of federal securities laws to the...more

Holland & Knight LLP

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

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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

Holland & Knight LLP

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

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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

Proskauer - Whistleblower Defense

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

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

Hanzo

Financial Data Compliance and Enterprise Information Archiving

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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

Holland & Knight LLP

Exponential Growth in SEC Whistleblower Program: A Sign of Things to Come for FY 2022

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"Record breaking" is how the U.S. Securities and Exchange Commission (SEC) described its whistleblower program results in FY 2021, and it's not hard to see why. The agency continued to receive tips from all corners of the...more

Perkins Coie

AMLA 2020 Series Part 2: New Bank Secrecy Act Whistleblower Provisions

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On New Year’s Day 2021, Congress passed the Anti-Money Laundering Act of 2020 (AMLA 2020). As we reported last April, the AMLA 2020 included sweeping reforms aimed at strengthening protections against money laundering,...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

Carlton Fields

Record-Breaking SEC Whistleblower Awards Signal the Need for Robust Anti-Retaliation Policies

Carlton Fields on

Introduction - Last year saw a significant increase in whistleblower reports to the Securities and Exchange Commission (SEC). The SEC reportedly received 35% more tips, complaints, and referrals for investigation between...more

The Volkov Law Group

Whistleblower Protections under the Anti-Money Laundering Act of 2020

The Volkov Law Group on

When Congress overrode former President Donald J. Trump’s veto of the 2021 National Defense Authorization Act (“NDAA”) in January of this year, it simultaneously enacted the Anti-Money Laundering Act of 2020 (“AMLA”) into...more

Law Matters

Loopholes Doom Money Laundering Anti-Retaliation Law

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A perspective from leading whistleblower attorney Stephen M. Kohn...more

Troutman Pepper Locke

Companies Must Keep Pace With Whistleblower Reporting

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Despite the program's success, there remains considerable room for public companies and SEC registrants to improve their internal reporting apparatus—to build cultures that encourage whistleblowers to report internally...more

Proskauer - Whistleblower Defense

Ga. District Court Dismisses Dodd-Frank and SOX Whistleblower Claims

On September 30, 2020, the U.S. District Court for the Northern District of Georgia granted an employer’s motion to dismiss a Dodd-Frank whistleblower claim on the ground that the alleged whistleblower did not complain to the...more

Proskauer - Whistleblower Defense

SEC Amends Whistleblower Program Rules

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 Volkov Law Group

SEC Amends Whistleblower Rules

The Volkov Law Group on

By any measure, the SEC’s whistleblower program has been a success.  Since its inception about 10 years ago, the SEC has collected $2.5 billion in financial recoveries based on whistleblower tips.  A large portion of this...more

BakerHostetler

A Divided SEC Tries To Turn Up the Heat on Financial Misconduct by Amending the Whistleblower Award Rules

BakerHostetler on

On Sept. 23, 2020, the Securities and Exchange Commission (SEC or Commission) adopted amendments to the rules that govern its whistleblower program in a 3-2 vote. Since the program’s inception 10 years ago, original...more

Kilpatrick

The SEC Amends Whistleblower Rules in Attempt to Bring Added Efficiency and Transparency to Program

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On September 23, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the rules of its whistleblower program in a 3-2 vote split along political party lines. The agency says that the amendments will bring...more

Cooley LLP

Blog: SEC amends rules for whistleblower program

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On Wednesday, the SEC voted (by a vote of three to two) to adopt amendments to the rules related to its whistleblower program. The program provides for awards in an amount between 10% and 30% of the monetary sanctions...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

Jones Day

A New Frontier for Whistleblowers: The Model Whistleblower Award and Protection Act for the States

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New efforts by states to incentivize whistleblowers financially underscore the importance of comprehensive corporate compliance programs that effectively address all internal reports of potential misconduct that may...more

Proskauer - Whistleblower Defense

SDNY Dismisses Dodd-Frank Whistleblower Claim for Lack of Protected Activity and Causation

On February 28, 2020, the U.S. District Court for the Southern District of New York dismissed a former chief marketing officer’s claim of whistleblower retaliation under the Dodd Frank Act. Cellucci v. O’Leary No. 19-cv-02752...more

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