News & Analysis as of

Enforcement Actions Corporate Counsel Rule 21F-17

BCLP

SEC Again Cracks Down on Companies That Restrict Whistleblowers

BCLP on

As discussed in our December 15, 2023 client alert, the SEC has waged an aggressive effort to enforce alleged violations of the whistleblower protection rule.  On September 9, 2024, the SEC announced settled charges resulting...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

BCLP

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

BCLP on

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

Goodwin

Employers Are Strongly Encouraged to Revisit Whistleblower Protection Language in Agreements and Policies in Light of Recent Legal...

Goodwin on

On Friday, September 29, 2023, the Securities and Exchange Commission (the “SEC”) issued an order that censured D. E. Shaw & Co., L.P., a registered investment advisor in New York, and assessed a civil penalty of $10,000,000...more

A&O Shearman

Recent SEC enforcement relating to workplace misconduct

A&O Shearman on

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

Epstein Becker & Green

SEC Imposes Staggering $35 Million Fine on Company for Paying Lip Service to Internal Compliance Procedures

Epstein Becker & Green on

Under the Biden Administration, the Securities and Exchange Commission has aggressively enforced its Whistleblower Program. As we previously reported here and here, the SEC has increased its focus on employers’ agreements or...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

Stinson - Corporate & Securities Law Blog

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

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

Jones Day

Recent SEC Enforcement Action Stresses Importance of Not Impeding Whistleblower Communications with Regulators

Jones Day on

The Situation: The SEC has brought another in a growing list of whistleblower cases critical of entities for potentially attempting to impede an individual from communicating with the agency. In July 2010, the Dodd-Frank Wall...more

Proskauer - Whistleblower Defense

NLRB Permits Confidentiality Restrictions During Internal Investigations

As reported in Proskauer’s Labor Relations Update blog, the NLRB issued an important opinion on December 17, 2019 relating to employer rules requiring confidentiality from employees during workplace investigations. Apogee...more

Kramer Levin Naftalis & Frankel LLP

SEC Accuses Issuer and CEO of Violating Whistleblower Protection Laws to Silence Investor Complaints

On Nov. 4, 2019, the Securities and Exchange Commission (SEC) filed an amended complaint against Collectors Café and its CEO, Mykalai Kontilai, to add charges against defendants for alleged violations of whistleblower...more

WilmerHale

SEC Settles Two More Whistleblower Protection Cases

WilmerHale on

Continuing its efforts to bring enforcement actions for violations of whistleblower protections, the Securities and Exchange Commission recently settled two more cases. Both cases involved severance agreements that contained...more

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