News & Analysis as of

Securities Violations Contract Terms

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

Carlton Fields

SEC Penalizes Anti-Whistleblower Provision in Customer Settlement Agreements

Carlton Fields on

The SEC has opened a new track in the whistleblower litigation derby. While SEC enforcement actions concerning whistleblower violations are nothing new, they typically involve claims that companies precluded employees from...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

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

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

Seyfarth Shaw LLP

SEC Continues to Police Confidentiality Provisions for Theoretical Whistleblower Suppression

Seyfarth Shaw LLP on

The Securities and Exchange Commission (“SEC”) levied an $18 million fine against J.P. Morgan Securities, LLC (“JPMS”) for allegedly including overbroad release provisions in settlement agreements. This marks the continuation...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

Ogletree, Deakins, Nash, Smoak & Stewart,...

SEC Fines Private Employer for Language in Employee Separation Agreements That Restricted Whistleblower Awards

The U.S. Securities and Exchange Commission (SEC) recently settled charges alleging that a company’s employee separation agreements restricted former employees from receiving monetary awards for reporting securities law...more

Womble Bond Dickinson

Recent Whistleblower Enforcement Actions Highlight SEC Focus On Employee Agreements

Womble Bond Dickinson on

In September, the U.S. Securities and Exchange Commission (the “SEC”) announced the settlement of three enforcement actions for violations of SEC whistleblower protection laws. In the actions, the SEC asserted that the...more

Holland & Knight LLP

SEC Settlements Over Whistleblower Protections Pile Up

Holland & Knight LLP on

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

Goodwin

SEC Announces the First Enforcement Action under the New Marketing Rule

Goodwin on

The U.S. Securities and Exchange Commission (the “SEC”) announced on August 21, 2023 that it has settled with a FinTech registered investment adviser (the “Adviser”) that offers multiple investment strategies, including a...more

Proskauer - Whistleblower Defense

SEC Alleges Employer’s Compliance Manual Violates Rule 21F-17

On June 23, 2021, the SEC announced that Guggenheim Securities, LLC (“Company”) agreed to settle charges that it violated Rule 21F-17 by including language in its compliance manual and training materials that allegedly...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

Farrell Fritz, P.C.

Telegram TRO Sends Strong Message to Digital Token Issuers

Farrell Fritz, P.C. on

On October 11, 2019, the Securities and Exchange Commission (the “Commission”) announced it filed a complaint and obtained a temporary restraining order against Telegram Group Inc. and its wholly-owned subsidiary TON Issuer...more

Mayer Brown Free Writings + Perspectives

Coalition of State Treasurers Oppose Mandatory Arbitration

Although Securities and Exchange Commission Chair Clayton has made clear that the Commission does not intend to focus on addressing mandatory arbitration provisions in the near term, the controversy regarding action in this...more

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