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SEC Pays First Ever Dodd-Frank Whistleblower Bounty Award
On August 21, 2012, the Securities and Exchange Commission (SEC) announced that it has awarded its first whistleblower bounty, just over one year after the SEC’s Dodd-Frank whistleblower rules became...
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Federal Court Decisions Permit Two Dodd-Frank Whistleblower Cases to Proceed
Two federal district courts recently issued decisions adopting a broad interpretation of the anti-retaliation provision of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”)...
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SEC Releases First Full-Year Report on the Dodd-Frank Whistleblower Program:...
On November 15, 2012, the Securities and Exchange Commission released its Fiscal Year 2012 Annual Report on the Dodd-Frank Whistleblower Program (the “Report”), the first full-year report issued since...
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Fifth Circuit Defines “Whistleblower” Narrowly Under Dodd-Frank
On July 17, 2013, the Fifth Circuit issued the first circuit court decision interpreting Dodd-Frank’s anti-retaliation provision. In Asadi v. G.E. Energy (USA), L.L.C., the Fifth Circuit held that, to...
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SEC Issues Huge Bounty Award of $14 Million to Whistleblower under Dodd-Frank
Today the SEC announced that it is issuing a whistleblower award of over $14 million to a whistleblower who provided information that resulted in the recovery of investor funds. The significant...
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Take Heart, Companies Can Win Whistleblower Cases: Two Key Victories Last...
Two victories for employers last week in Dodd-Frank and SOX whistleblower cases may provide a basis for at least a sliver of optimism among employers and whistleblower defense lawyers hammered by a...
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Dodd-Frank Retaliation Cases Continue To Be a Mixed Bag For Companies
Two new Dodd-Frank decisions over the last week contain mixed results for employers. In Liu v. Siemens A.G., Judge Pauley in the Southern District of New York held that Dodd-Frank’s anti-retaliation...
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Moving Right Along: The Office of Whistleblower Issues Its 2013 Annual Report
The SEC released its Fiscal Year 2013 Annual Report (the “Report”) to Congress on the Dodd-Frank Whistleblower Program on November 15, 2013. The Report analyzes the tips received over the last...
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Where the Whistle Blows: SEC Invites Circuit Split Over Reach of Dodd-Frank...
The Securities and Exchange Commission recently weighed in on a whistleblower case pending in the Second Circuit, urging the court in Liu v. Siemens, A.G. to adopt the SEC’s interpretation of the...
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SEC Charges Hedge Fund Adviser with Whistleblower Retaliation under Dodd-Frank
On June 16, 2014, the SEC issued its first-ever charge of whistleblower retaliation under section 922 of the Dodd-Frank Act, charging a hedge fund advisor and its owner with “engaging in prohibited...
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Can You Hear the Whistle Blowing?: SEC Punishes Company that Did Not Address...
The U.S. Securities and Exchange Commission recently announced the latest whistleblower bounty awarded under the Dodd-Frank Act, which authorizes rewards for original information about violations of...
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Second Circuit Holds Dodd-Frank Whistleblower Provision Does Not Apply...
Last week, in Liu v. Siemens, AG, the Second Circuit held that the Dodd-Frank Act’s whistleblower retaliation provision (15 U.S.C. 78u-6(h)(1)) does not apply extraterritorially, in the first Second...
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SEC Puts Their Money Where Their Mouth Is: $30 Million Awarded to Whistleblower
On September 22, 2014, the SEC announced its largest whistleblower award to date under its Dodd-Frank whistleblower bounty program. It awarded $30-$35 million to an anonymous whistleblower who the...
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The Split Deepens: New York District Court Holds Internal Reporting Not...
In Berman V. Neo@Ogilvy LLC, 1:14-cv-523 (Dec. 4, 2014), Judge Gregory Woods of the Southern District of New York dismissed a Dodd-Frank whistleblower retaliation claim on the ground that internal...
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Show Me The Money: Yes, Even Corporate Officers Can Collect Dodd-Frank Bounty...
On March 2, 2015, the SEC announced a whistleblower bounty award of between $475,000 and $575,000, its 15th under the Dodd-Frank whistleblower program. While the SEC’s order is scant on detail, it...
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SEC Makes Good on Its Promise to “Un-Muzzle” Employees from Cooperating in...
In a much-anticipated move, the SEC on April 1, 2015 commenced a cease-and-desist action against KBR (formerly Kellogg Brown & Root) alleging its confidentiality agreements violated Dodd-Frank’s...
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Whistle While You Work: SEC Announces First Retaliation Whistleblower Award
On June 16, 2014, the SEC issued its first-ever charge of whistleblower retaliation under section 922 of the Dodd-Frank Act, charging a hedge fund advisor and its owner with “engaging in prohibited...
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United States Supreme Court Poised to Address Standard for Insider Trading...
On July 31, the Solicitor General filed a petition for a writ of certiorari in United States v. Newman, 773 F.3d 438 (2d Cir. 2014), asking the United States Supreme Court to address the standard for...
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SEC Awards Third Highest Whistleblower Award to Date
On July 17, 2015, the SEC announced a whistleblower award of over $3 million to a company insider who provided information that “helped the SEC crack a complex fraud.” This payout represents the third...
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Chief of SEC Whistleblower Office Shares Candid Assessment of Program’s...
On September 9, 2015, Sean McKessy, Chief of the SEC’s Office of the Whistleblower (OWB) spoke at Thomson Reuters’ 4th Annual Corporate Whistleblower Program in New York. With the standard disclaimer...
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