Whether a claimant qualifies as a whistleblower under the language of the Dodd-Frank Act when he does not complain directly to the SEC is the question the Eighth Circuit Court of Appeals in St. Louis may attempt to answer.
Today, July 21, 2014, is the fourth anniversary of the passage of the Dodd-Frank Act — the most significant financial reform law enacted since the Great Depression to combat Wall Street and financial fraud.
LXBN TV: For the First Time, SEC Brings Enforcement Action Under Dodd-Frank’s Whistleblower Provision
It’s always interesting when a regulatory body does something for the first time, because you’re not exactly sure what we’ll happen next. Well, that’s not quite right, because you do—there will be challenges. And that’s what will happen after the SEC brought its first enforcement action under the Dodd-Frank Act’s anti-relation provisions.
The SEC recently issued an Order against Paradigm Capital Management, Inc. (Paradigm), a registered investment adviser, and its principal for allegedly engaging in principal trades without effective client disclosure and consent, and for retaliating against an employee who reported such activity to the SEC.
Federal Courts Divided On the Definition of “Whistleblower” As That Word is Used in the Dodd-Frank Act
The U.S. district courts are currently split on the question of whether the anti-retaliation provisions of the federal Dodd-Frank Act (“DFA”) apply to employees who disclose their employer’s alleged securities violations to company officials but do not report the claimed violations to the SEC.
Something Old, Something New: SEC Brings Action for Prohibited Principal Transactions and Retaliation Against Whistleblower
Clearly signaling its intention to support whistleblowers who provide actionable evidence of wrong-doing, the SEC this week settled the first case brought under the authority granted by the Dodd-Frank Act enabling anti-retaliation enforcement actions.
The Securities and Exchange Commission announced its first settlement of a Whistleblower Retaliation case under the new anti-retaliation authority granted by the 2010 financial overhaul law.
The U.S. District Court for the Eastern District of Wisconsin ruled that an Illinois-based bank employee could not state a claim under the whistleblower protection provision in Dodd-Frank because his complaints alleged violations of banking laws, not securities laws.
In a variation on a familiar refrain, the Fourth Circuit recently upheld the enforceability of another arbitration provision under the Federal Arbitration Act (“FAA”) in Santoro v. Accenture Federal Services, LLC.
On Wednesday, members of the Society of Corporate Secretaries and Governance Professionals met with senior members of the SEC’s Staff to discuss a lengthy agenda impacting issuers.