On November 17, 2021, the U.S. District Court for the Southern District of New York held that a company and its CEO violated Rule 21F-17 of the Exchange Act by entering into confidentiality agreements with investors that prohibited communications with the SEC, and subsequently attempting to enforce those agreements. SEC
EEOC Updates COVID-19 Guidance with Anti-Retaliation Section
On November 17, 2021, the EEOC updated its technical guidance on COVID-19 and anti-discrimination with a new anti-retaliation section.
The new section largely restates existing statutory anti-retaliation protections in the context of COVID-19. The guidance provides several examples of COVID-related protected activity, which include filing a charge with the EEOC
SEC Alleges Employer’s Compliance Manual Violates Rule 21F-17
On June 23, 2021, the SEC announced that Guggenheim Securities, LLC (“Company”) agreed to settle charges that it violated Rule 21F-17 by including language in its compliance manual and training materials that allegedly prohibited employees from contacting regulators without prior Company approval. Without admitting or denying the findings in the
OSHA’s COVID-19 Emergency Temporary Standard Contains Anti-Retaliation Provision
On June 21, 2021, OSHA’s much-anticipated Emergency Temporary Standard (“ETS”) on COVID-19 protections went into effect. While Proskauer’s Law and the Workplace blog covered the ETS in detail here, this post focuses on the anti-retaliation provision in the ETS.
Anti-Retaliation Provision
The ETS, which applies only to the health-care
7th Circuit Affirms Denial of Equitable Tolling of Statute of Limitations Under SOX
On March 22, 2021, the Seventh Circuit affirmed a decision by the ARB dismissing a whistleblower retaliation complaint under SOX for failure to file within the 180-day statutory deadline. Xanthopoulos v. U.S. Department of Labor, No. 20-2604. The court rejected the plaintiff’s equitable tolling arguments.
Background
Plaintiff was an
Whistleblower Attorney Challenges SEC Final Rule Changing Its Whistleblower Program
On January 13, 2021, a New York whistleblower attorney filed a lawsuit in the U.S. District Court for the District of Columbia challenging a recent final rule adopted by the Securities and Exchange Commission (the “Commission or “SEC”) which made several changes to the SEC’s whistleblower program.
The SEC Final
CFTC Releases 2020 Annual Report on its Whistleblower Program
The Commodity Futures Trading Commission (“CFTC”) recently released its 2020 Annual Report on the status of its whistleblower program for the fiscal year ending on September 30, 2020.
The report, prepared by the CFTC’s Whistleblower Office (“WBO”), contains statistics on the tips received and awards granted during the previous fiscal
SEC Amends Whistleblower Program Rules
On September 23, 2020, by a vote of 3 to 2, the U.S. Securities and Exchange Commission announced the adoption of a final rule implementing several changes to its whistleblower program, citing the need to “provide greater clarity to whistleblowers and increase the program’s efficiency and transparency.” The following addresses
Third Circuit Confirms Limits on Scope of Protected Activity Under SOX
On July 16, 2020, the Third Circuit affirmed the dismissal of a former IT analyst’s whistleblower retaliation claim, holding that he lacked an objectively reasonable belief that his complaints implicated one of the enumerated forms of fraud in the SOX whistleblower provision. Reilly v. GlaxoSmithKline, LLC, No. 19-cv-2897.
Background
ARB Denies Equitable Tolling of 180-Day Statute of Limitations Under SOX
On June 29, 2020, the Administrative Review Board (“ARB”) upheld the dismissal of a whistleblower retaliation complaint under Section 806 of the Sarbanes-Oxley Act (“SOX”) for failure to file within the 180-day statutory deadline. Xanthopoulos v. Marsh & McLennan Companies, Inc., ARB Case No. 2019-0045 (June 29, 2020).
Background