Utah Whistleblower Hotline

Dodd-Frank Act

SEC doles out first award during Trump era; but is whistleblower program in trouble

SEC doles out first award during Trump era; but is whistleblower program in trouble

SEC doles out first award during Trump era; but is whistleblower program in trouble

In late April, the Securities and Exchange Commission (“SEC”) issued its first whistleblower award during the Trump administration, awarding almost $4 million to an individual that the SEC said provided the agency with original information that led to the successful…
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Dodd-Frank Act, SEC, Securities and Exchange Commission, Whistleblower, Whistleblower award

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9th Cir. widens circuit split over Dodd-Frank whistleblower protections

9th Cir. widens circuit split over Dodd-Frank whistleblower protections

A recent decision from the 9th Circuit has served to widen the circuit split over whether Dodd-Frank’s anti-retaliation protections should protect internal whistleblowers.  In early March, a split 9th Circuit panel found in favor of extending Dodd-Frank’s anti-retaliation protections to…
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Dodd-Frank Act, Retaliation, Whistleblower, Whistleblower protection

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$20M award adds to historic SEC total

$20M award adds to historic SEC total

Earlier this week, the SEC announced a more than $20 million whistleblower award “to a whistleblower who promptly came forward with valuable information that enabled the SEC to move quickly and initiate an enforcement action against wrongdoers before they could…
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Dodd-Frank Act, SEC, Securities and Exchange Commission, Whistleblower, Whistleblower award

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SEC settles first stand-alone retaliation enforcement action

SEC settles first stand-alone retaliation enforcement action

Late in September, the SEC Office of the Whistleblower brought its second stand-alone whistleblower retaliation enforcement action against International Game Technology (“IGT”) over allegations that the company fired “an employee with several years of positive performance reviews because [the employee]…
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Dodd-Frank Act, Retaliation, SEC, Securities and Exchange Commission, workplace retaliation

Monsanto whistleblower gets $22M award

Monsanto whistleblower gets $22M award

At the end of last month, the SEC announced “the award of more than $22 million to a whistleblower whose detailed tip and extensive assistance helped” the SEC bring to an end a “well-hidden” fraud at Monsanto where the whistleblower…
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Dodd-Frank Act, SEC, Securities and Exchange Commission, Whistleblower award, Whistleblower protection

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Pretaliation severance agreements a no-no

SEC Settles Two Pretaliation Severance Agreement Cases

The Securities and Exchange Commission (“SEC”) has recently reiterated its stance against problematic pretaliation severance agreements that attempt to require outgoing employees to waive their rights to recover a whistleblower bounty or to bring a qui tam action against his…
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Dodd-Frank Act, SEC, Securities and Exchange Commission

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SOX and “reasonable beliefs”

Sarbanes-Oxley Act - SOX

In a recent decision from the Eighth Circuit Court of Appeals, future potential whistleblowers alleging retaliation claims under the Sarbanes-Oxley Act (“SOX”) may have found an easier path to proceed with their claims.  The Eighth Circuit’s opinion in Beacom v….
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Dodd-Frank Act, Sarbanes-Oxley, workplace retaliation

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SEC whistleblower awards trending up

SEC whistleblower awards

In May 2016 alone, the Securities and Exchange Commission (“SEC”) paid approximately $10 million in whistleblower awards.  These frequent and ever-increasing awards should serve as a stern notice to in-house counsel and compliance personnel alike that SEC whistleblower awards may…
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Dodd-Frank Act, Sarbanes-Oxley, SEC, Securities and Exchange Commission

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CFTC pays whistleblower $10 million

CFTC Whistleblower Program

Until recently, the U.S. Commodity Futures Trading Commission’s (“CFTC”) Dodd-Frank Whistleblower Program had only paid out two whistleblower awards, totaling $530,000 ($290,000 and $240,000, respectively), over the entire life of the program.  However, that changed significantly when the CFTC announced…
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CFTC Whistleblower Program, Dodd-Frank Act, IRS, IRS Tax Whistleblower Program, SEC, Securities and Exchange Commission, Whistleblower, Whistleblower award, Whistleblower protection, workplace retaliation

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SEC Office of the Whistleblower chomping at the bit to pay “big awards”

SEC Office of the Whistleblower

Two distinct themes have emerged from the recent whistleblower awards issued by the SEC Office of the Whistleblower: 1) The SEC’s Whistleblower Office will, if warranted, pay big awards; and 2) The faster a potential whistleblower provides the SEC with…
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Dodd-Frank Act, SEC, Whistleblower award

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