- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-10-31T12:55:00
What should your company be doing in response to increased enforcement emphasis by the Securities and Exchange Commission (SEC) regarding violations of its whistleblower protection rule?
Problematic and prohibited wording can exist in nondisclosure agreements, confidentiality agreements, employee onboarding agreements, voluntary or involuntary termination agreements, and in severance documents that an employee must sign to receive compensation or payments, among other documentation.
Consider the recent enforcement case against investment firm D.E. Shaw & Co., which agreed to pay a $10 million fine in September to settle charges it included prohibited clauses in certain types of employment agreements. The penalty was the largest ever assessed against a company for violating the whistleblower rule (Rule 21F-17), remarked SEC Enforcement Director Gurbir Grewal.
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2024-01-16T15:51:00Z By Aaron Nicodemus
A subsidiary of JPMorgan Chase will pay an $18 million fine to the Securities and Exchange Commission for allegedly violating the agency’s whistleblower protection rule in hundreds of settlement agreements with clients and customers.
2023-11-14T16:27:00Z By Kyle Brasseur
With a moving target for compliance under the EU’s Whistleblower Directive, the opportunity exists for companies to set their own standards on whistleblowing and engender greater trust among employees, according to a panel at Compliance Week’s Europe conference in London.
2023-11-03T09:39:00Z By Aaron Nicodemus
Most of the whistleblower tips received by the Commodity Futures Trading Commission in fiscal year 2023 related to fraud and misappropriation of crypto/digital assets.
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The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
2025-04-11T08:00:00Z By Adrianne Appel
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
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