In Liu v. Siemens A.G., No. 13-cv-4385, 2014 WL 3953672 (2d Cir. Aug. 14, 2014), the Second Circuit affirmed that the anti-retaliation provision in Section 922 of Dodd-Frank does not apply extraterritorially.
In the latest fiscal year report of the SEC Office of the Whistleblower, the agency reported that as of the end of the 2013 fiscal year it had received a total of 6,573 whistleblower reports since the the Dodd-Frank whistleblower program’s inception.
There are key elements of the Dodd-Frank Act, despite being enacted more than four years ago, that are still in their infancy. This is espcially true when it comes to the the whistleblower provisions of the law. But as the SEC begins to officially execute on this parts of the law, we’re seeing plenty of resistance.
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.