News & Analysis as of September 17, 2024

Enforcement Actions

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

The Justice Insiders Podcast: Meet the Securities and Exchange (and Human Resources) Commission

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

Businesses Must Contemplate Employees' Use of Messaging Apps on Personal Devices

BakerHostetler on 2/11/2022

An investment management company was recently hit with $200 million in fines for failing to track employees’ use of personal messaging apps, which resulted in the loss of communications that were subject to regulatory...more

SEC Brings First Whistleblower Anti-Retaliation Enforcement Action

Ogletree, Deakins, Nash, Smoak & Stewart,... on 8/8/2014

On June 16, 2014, the U.S. Securities and Exchange Commission (SEC) resolved its first whistleblower retaliation enforcement action. The SEC’s order against Paradigm Capital Management, Inc. is the first-ever enforcement...more

The Danger of Retaliating Against Whistleblowers

The Volkov Law Group on 7/2/2014

Every company claims that they encourage a “speak up” culture. As part of a “speak up” culture, companies encourage managers and employees to raise concerns about potential violations and promise not to retaliate against...more

SEC Makes First Finding of Retaliation in Violation of the Exchange Act’s Anti-Retaliation Rule

Burr & Forman on 7/1/2014

On June 16, 2014, the SEC entered an order (the “Order”) instituting cease and desist proceedings against an investment adviser, Paradigm Capital Management, Inc. (“Paradigm”), and Paradigm’s founder, Director, President,...more

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