Whistleblower Incentives & Protections

by Allan Dinkoff

On May 25, 2011, the Securities and Exchange Commission approved regulations implementing the whistleblower bounty program and antiretaliation provisions mandated by Section 922(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The regulations expand significantly the scope of Dodd-Frank’s anti-retaliation provisions beyond the express terms of the statute, and this has significant implications for employers.

Click here for Mr. Dinkoff’s employment law-focused perspective on the SEC regulations.

Click here for a broad summary of these SEC regulations from Weil’s Public Company Advisory Group.

In late May 2011, the Securities and Exchange Commission voted three-to-two to approve new Regulation 21F implementing the whistleblower bounty program and anti-retaliation provisions mandated by Section 922(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Regulation 21F will take effect 60 days after publication in the Federal Register. The most controversial aspect of the proposed regulation was the absence of a requirement that corporate whistleblowers report internally before going to the SEC. While the final regulation does not require this, it enhances the incentives for whistleblowers to do so.

Download the full-text PDF of this update.

Dodd-Frank Act: Retaliation, Whistleblower, Bounties and Executive Compensation

NYU 64th Annual Conference on Labor

June 9, 2011, NYU Center for Labor and Employment Law, NYU Law School, New York, NY

Weil’s Allan Dinkoff will serve as the moderator for the workshop titled “Dodd-Frank Act: Retaliation, Whistleblower, Bounties and Executive Compensation” at the NYU 64th Annual Conference on Labor, NYU Center for Labor and Employment Law, NYU Law School.

“Adapting Your Compliance Programs to Key Portions of Dodd-Frank”

American Conference Institute, Regulatory Compliance & Risk Management for Financial Services

May 5-6, 2011, New York, NY | Register Now

Weil’s Heath Tarbert will participate in the 3:50 p.m. panel on May 5 titled “Adapting Your Compliance Programs to Key Portions of Dodd-Frank.” The panel will address new and evolving regulation on proprietary trading (Volcker Rule), whistleblower and “bounty” strategies, risk retention, and international regulatory frameworks, including Basel III requirements.

The Dodd-Frank Act: A New Era in Whistleblower Protection

Friday, April 29, 2011, New York, NY, Cornell University ILR Conference Center | Register Now

Jeffrey Klein, a partner in Weil’s Litigation Department and the head of the firm’s Employment practice group, will be participating in a panel hosted by Cornell University’s ILR School on the implications for employers and employees of the Dodd-Frank Act’s expanded whistleblower protections.