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Entries Tagged as 'Dodd-Frank Act'

CFTC Gives Whistleblower $240,000 in First Award Under Dodd-Frank

May 23rd, 2014 · No Comments

TweetThe U.S. Commodity Futures Trading Commission (CFTC) finally made a whistleblower award under its Dodd-Frank mandate, but released virtually no information about the enforcement action that led to its $240,000 payout.

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Tags: Commodities Trading Fraud · Dodd-Frank Act

Supreme Court Says SOX Can Fit Almost Anyone

March 5th, 2014 · No Comments

TweetNOTE: A version of this post first appeared on Law360.com.  The author, R. Scott Oswald, was counsel of record on an amicus curiae brief filed in this case. In deciding Lawson v. FMR LLC, the first whistleblower case they have heard under the Sarbanes-Oxley Act (SOX), the justices of the U.S. Supreme Court agreed that […]

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Tags: Dodd-Frank Act · Federal Whistleblower Legislation · Retaliation · Sarbanes-Oxley · The Employment Law Group, P.C. · Whistleblower Protection

The Top Ten Whistleblower Decisions of 2013: Part 1

January 14th, 2014 · No Comments

TweetFor whistleblowers and their advocates, 2013 was a whipsaw year: Big advances followed sharp letdowns in quick rotation — sometimes from the same source. (Ahem, Supreme Court and White House.) Plus there was the Snowden sideshow. But since NSA leaker Edward Snowden was never a real whistleblower — he acted outside the law and fled […]

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Tags: Department of Labor ARB · Dodd-Frank Act · False Claims Act · SEC Whistleblower · Securities Fraud · The Employment Law Group, P.C.

SEC Makes Another Whistleblower Payout — This Time at Maximum 30%

October 31st, 2013 · No Comments

TweetThe U.S. Securities and Exchange Commission (SEC) announced its second whistleblower award in a month, saying it will give the maximum 30% share of penalties in an unidentified case to a tipster who helped in the enforcement action. Coming after a huge $14 million award earlier in October, the more modest payout of more than $150,000 suggests that […]

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Tags: Dodd-Frank Act · SEC Whistleblower · Securities Fraud · Uncategorized

Federal Judge Rejects Asadi Limits on Whistleblower Protection

October 21st, 2013 · No Comments

TweetA federal judge ruled that the Dodd-Frank Act protects whistleblowers from retaliation even if they’re punished by an employer before bringing their concerns to the Securities and Exchange Commission (SEC). The ruling is the first explicit repudiation of July’s high-profile Asadi decision by the U.S. Court of Appeals for the Fifth Circuit, which held that […]

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Tags: Dodd-Frank Act · Sarbanes-Oxley · SEC Whistleblower · Uncategorized · Whistleblower Protection

SEC Whistleblower Program Makes Its Bones With $14 Million Award

October 3rd, 2013 · No Comments

TweetThe U.S. Securities and Exchange Commission (SEC) awarded an unnamed tipster more than $14 million, obliterating all doubt about the resolve of the agency’s whistleblower program. The SEC didn’t identify the underlying enforcement action in either its press release or a related order, but the award’s enormous size  indicates that the U.S. government may reap as […]

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Tags: Dodd-Frank Act · Retaliation · SEC Whistleblower · Securities Fraud

Fifth Circuit Narrows Definition of “Whistleblower” Under Dodd-Frank

July 19th, 2013 · No Comments

TweetBy holding the Dodd-Frank  Act to a literal reading of its language — and rejecting any consideration of the statute’s goals — a federal appeals court has set up a battle over who may claim protection as a corporate “whistleblower” under the law. “We start and end our analysis with the text of the relevant […]

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Tags: Dodd-Frank Act · Sarbanes-Oxley · SEC Whistleblower · Whistleblower Protection

Recent Kramer Decision in Favor of a Dodd-Frank Whistleblower Likely to Strengthen Anti-Retaliation Lawsuits Brought by Financial Whistleblowers, Law360 Reports

September 28th, 2012 · No Comments

TweetLaw360 recently indicated in its lead story the broad implications of the recent ruling in Kramer v. Trans-Lux for financial whistleblowers.  The Kramer decision marked the first time a Dodd-Frank whistleblower’s retaliation claim has survived a motion to dismiss when, earlier this week, a federal judge embraced an expansive definition of whistleblower under Dodd-Frank. The […]

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Tags: Dodd-Frank Act · The Employment Law Group, P.C.

Law360 Quotes Nicholas Woodfield on First-of-Its-Kind Ruling in Whistleblower Protection Case under Dodd-Frank

September 28th, 2012 · No Comments

TweetLaw360 recently reported in its lead article on Kramer v. Trans-Lux Corp. , the first court decision allowing a Dodd-Frank Act retaliation suit to survive a motion to dismiss.  In the article, Law360 quoted Nicholas Woodfield, principal at The Employment Law Group® law firm and attorney for Richard Kramer, the whistleblower who brought the lawsuit. […]

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Tags: Dodd-Frank Act · The Employment Law Group, P.C.

Kramer v. Trans-Lux Corp., First Dodd-Frank Claim to Survive Motion to Dismiss in Federal Court

September 26th, 2012 · No Comments

TweetOn Tuesday, September 25, the U.S. District Court for the District of Connecticut ruled that the definition of “whistleblower” under the Dodd-Frank Act encompasses individuals who make disclosures required or protected under the Sarbanes-Oxley Act or the Securities Exchange Act of 1934.  Plaintiff’s Richard Kramer’s case against former employer Trans-Lux is the first Dodd-Frank claim […]

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Tags: Dodd-Frank Act · The Employment Law Group, P.C.

Consumer Financial Protection Bureau (CFPB) Announces Clamp Down on Discriminatory Lending Practices

May 1st, 2012 · No Comments

TweetOn April 18, 2012 the Consumer Financial Protection Bureau (CFPB) released a compliance bulletin announcing its intention to clamp down on discriminatory lending practices.  According to the bulletin, the CFPB plans to use a variety of available legal strategies – including disparate impact claims – to crack down on lenders and other financial institutions whose […]

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Tags: Dodd-Frank Act

Sarbanes-Oxley Compliance Journal Publishes Article by The Employment Law Group® Managing Principal, R. Scott Oswald

April 30th, 2012 · No Comments

TweetAccording to The Employment Law Group® law firm’s managing principal, R. Scott Oswald, “2011 marked a sea change for whistleblowers at the Department of Labor’s Administrative Review Board (ARB).”  The Sarbanes-Oxley Compliance Journal recently published an article by Mr. Oswald which discusses the impact of recent ARB decisions on whistleblower protection and describes why “2011 was […]

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Tags: Department of Labor ARB · Dodd-Frank Act · Sarbanes-Oxley · The Employment Law Group, P.C.

Managing Principal of The Employment Law Group®, R. Scott Oswald, Discusses the Importance of “Robust and Responsive Internal Compliance Programs” with Workforce Management Magazine

April 11th, 2012 · No Comments

TweetR. Scott Oswald, managing principal of The Employment Law Group®, was recently interviewed and quoted by Workforce Management Magazine on the subject of expanded whistleblower protection under the Dodd-Frank Wall Street Reform and Consumer Protection Act. In 2010, Dodd-Frank amended the Sarbanes-Oxley Act (SOX) and expanded whistleblower protections to include “nationally recognized statistical rating organizations” […]

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Tags: Dodd-Frank Act · Sarbanes-Oxley · The Employment Law Group, P.C.

R. Scott Oswald, Managing Principal of The Employment Law Group®, Publishes Article in The Washington Post on Recent Expansions of Employee Rights

April 11th, 2012 · No Comments

TweetR. Scott Oswald, managing principal of The Employment Law Group® recently published an article in The Washington Post discussing new expansions of employee rights in the areas of whistleblower protection and wage and hour law. In the piece, Mr. Oswald discussed recent developments in employee protection law that, if ignored, could result in penalties and […]

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Tags: Dodd-Frank Act · False Claims Act · Sarbanes-Oxley · SEC Whistleblower

SEC Whistleblower Chief Reportedly Pleased With High-Quality Leads Received Since Beginning of Whistleblower Rewards Program

March 15th, 2012 · No Comments

TweetAccording to a report this week in the Financial Times, the chief of the Securities Exchange Commission’s new Whistleblower Office, Sean McKessey, stated that the SEC has “received notes, audio recordings of conversations and simple recollections” of securities fraud and other wrongdoing since a new whistleblower reward program promising rewards for whistleblowers began last year. […]

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Tags: Dodd-Frank Act · Foreign Corrupt Practices Act · SEC Whistleblower

Department of Labor Administrative Review Board Decision Limits Sarbanes-Oxley Retaliation Protections for Foreign Whistleblowers

February 7th, 2012 · No Comments

TweetOn December 22, 2011, the Department of Labor’s Administrative Review Board (ARB) issued a 3-2 en banc decision that limits the application of the Sarbanes-Oxley Act (SOX) outside of the United States. The case, Villanueva v. Core Laboratories, ARB No. 09-108, ALJ No. 2009-SOX-006 (ARB December 22, 2011), centered around a whistleblower complaint filed by […]

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Tags: Department of Labor ARB · Dodd-Frank Act · Sarbanes-Oxley · The Employment Law Group, P.C.

Fifth Circuit Rules for Plaintiff in False Claims Act Retaliation Suit Previously Dismissed on Statute of Limitations Grounds

January 31st, 2012 · No Comments

TweetOn January 5, 2012, the U.S. Court of Appeals for the Fifth Circuit held that a two-year statute of limitations was the appropriate period for assessing the timeliness of an action brought by a private employee alleging retaliation by a former employer in violation of the False Claims Act (FCA). The plaintiff, Michael Riddle, allegefs […]

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Tags: Dodd-Frank Act · False Claims Act

Capital Insider interviews Attorney Adam Augustine Carter about What Employees Should Know for 2012

January 10th, 2012 · No Comments

Tweet Morris Jones of Capital Insider interviewed The Employment Law Group® law firm attorney Adam Augustine Carter on the recent changes in whistleblower and employment law that will affect employees in 2012. The points Mr. Carter makes are that: There are almost 2 million home health aides and in-home care providers working in our country. Now with […]

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Tags: Dodd-Frank Act · Sarbanes-Oxley · The Employment Law Group, P.C.

SEC Chairman Says Whistleblower Program Yielding Significant Benefits, Calls Proposed Changes Premature

December 22nd, 2011 · No Comments

TweetAccording to Securities and Exchange Commission (SEC) Chairman Mary Schapiro, the SEC’s new whistleblower program is already providing “significant benefits” one year after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. In a letter sent to Rep. Barney Frank (D-MA), co-author of Dodd-Frank, SEC Chairman Schapiro argued that recent calls to […]

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Tags: Dodd-Frank Act · Federal Whistleblower Legislation

Study Finds That Three-Quarter of Americans Would Blow the Whistle on Wrongdoing in the Workplace

December 20th, 2011 · No Comments

TweetAccording to a recent study commissioned by Labaton Sucharow LLP, a securities and antitrust law firm, approximately three-quarter of Americans say that they would be willing to report wrongdoing in the workplace, as long as they were protected against retaliation, could remain anonymous, and would receive a monetary reward. The “Ethics and Action Survey,” conducted […]

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Tags: Dodd-Frank Act

Dodd-Frank Act Co-Author Rep. Barney Frank to Retire after Current Term

December 1st, 2011 · No Comments

TweetThis week Rep. Barney Frank (D-MA) announced that he would not seek a 17th term in office and would retire from the House of Representatives at the end of his current term. Rep. Frank served as the chairman of the House Financial Services Committee from 2007 to 2011 and co-authored the landmark Dodd-Frank Wall Street […]

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Tags: Dodd-Frank Act

SEC Reports 334 Whistleblower Tips and 170 Enforcement Orders in First Seven Weeks of Whistleblower Award Program

November 21st, 2011 · No Comments

TweetThe Securities and Exchange Commission released its first annual report on the new SEC Whistleblower Award Program, covering the period from the program’s inception on August 12 to the end of fiscal year 2011 on September 30.  During those seven weeks, the Commission received an astounding 334 whistleblower tips from individuals in 37 states, as well […]

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Tags: Dodd-Frank Act

CFTC Adopts Favorable Rules for Whistleblower Reward Program

August 19th, 2011 · No Comments

TweetFollowing the lead of the Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC) adopted finalized rules for its new Whistleblower Reward Program that heavily favor whistleblowers.  Importantly, the rules do not require whistleblowers to first report wrongdoing to their employer; instead whistleblowers may report wrongdoing directly to the CFTC. The CFTC is an independent agency […]

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Tags: Dodd-Frank Act

SEC Whistleblower Reward Program Goes into Effect August 12

August 12th, 2011 · No Comments

TweetThe SEC Whistleblower Reward Program signed into law last year under theDodd-Frank Wall Street Reform and Consumer Protection Act is effective as from today, August 12, 2011. As the U.S. economy continues to struggle, compounded by a lowered Standard & Poor’s rating that sent the New York Stock Exchange and European markets spiraling, corporate whistleblower cases […]

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Tags: Dodd-Frank Act · SEC Whistleblower

Third Circuit Overturns Lower Court in Favor of Whistleblower Who Exposed Illegal Medicare Kickbacks

July 12th, 2011 · No Comments

TweetOn June 30, 2011, the United States Court of Appeals for the Third Circuit ruled in United States ex rel. Wilkins v. United Health Group  overturned the decision of the lower court and held in favor of whistleblowers Charles Wilkins and Daryl Willis.  The whistleblowers allege that United Health Group (UHG) provided kickbacks to those […]

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Tags: Dodd-Frank Act · Federal Whistleblower Legislation · Whistleblower Protection Act