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ARTICLE · 11 NOVEMBER 2016

Whistleblower Claims Under SOX And Dodd-Frank: Recent Developments - November 2016

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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In May 2016, the SEC made three announcements that it would make bounty awards totaling nearly $10 million to four whistleblowers.

United StatesEmployment and HR
Kevin B. Leblang
Kevin B. Leblang
Robert N. Holtzman
Robert N. Holtzman
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The Securities and Exchange Commission (the "SEC" or the "Commission") recently announced settlements with two employers whose use of severance agreements allegedly restricted former employees' rights to engage in whistleblowing activity. Moreover, the SEC has announced significant new bounty awards; to date in 2016, the SEC has awarded 10 individuals a total of more than $50 million through its bounty program. Finally, two notable recent federal court decisions have issued rulings pertaining to the Sarbanes-Oxley Act ("SOX") and the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank") that are favorable to employers.

SEC Settles With Two Employers Whose Severance Agreements Included Waivers of the Employees' Right to Monetary Awards for Providing Information to the SEC

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