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- 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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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
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