News & Analysis as of

Securities Violations Whistleblowers Investment Adviser

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2025

On January 17, 2025, a few days before the presidential inauguration, the SEC reported a record-breaking first quarter of fiscal year 2025 (October through December 2024) with 200 total enforcement actions, including 118...more

A&O Shearman

SEC Announces Settlement With Investment Advisory Firm For Allegedly Breaching Fiduciary Duties And Violating Whistleblower...

A&O Shearman on

On January 16, 2025, the Securities and Exchange Commission (“SEC”) filed a settled enforcement action against a pair of related investment advisers (the “Investment Adviser”) for allegedly breaching their fiduciary duties by...more

A&O Shearman

SEC Reaches Three Separate Resolutions In Continued Focus On Whistleblowers And Rule 21F-17(a)

A&O Shearman on

In September 2024, the Securities and Exchange Commission (“SEC” or “the Commission”) resolved three separate actions against corporate entities for reaching agreements with employees, potential employees, and clients that,...more

Ballard Spahr LLP

Are Whistleblower Protection Violations the New SEC Sweep?

Ballard Spahr LLP on

The Securities and Exchange Commission (SEC) continues to investigate companies for including language in their employment and separation agreements or retail client settlement agreements that potentially discourages...more

Troutman Pepper Locke

SEC Charges Broker-Dealer and Two Affiliated Investment Advisers With Violating Whistleblower Protection Rule

Troutman Pepper Locke on

On September 4, the Securities and Exchange Commission (SEC) issued an order against three investment adviser firms for violating the whistleblower protections of Rule 21F-17(a) under the Securities Exchange Act of 1934. This...more

Seward & Kissel LLP

SEC Settles Charges Against Firm for Alleged Whistleblower Protection Rule Violations

Seward & Kissel LLP on

Who may be interested: Investment Advisers, Broker-Dealers - Quick Take: The SEC settled charges against a firm that allegedly prevented brokerage customers and advisory clients from reporting potential securities law...more

Farella Braun + Martel LLP

Employers Should Review Confidentiality Policies and Severance Agreements in Light of Recent SEC $10 Million Penalty

Both public and private companies should review their confidentiality policies and written agreements in light of recent guidance and enforcement actions by the Securities and Exchange Commission (SEC). On September 29, 2023,...more

Freiberger Haber LLP

Enforcement News: SEC Charges Investment Advisor With Violating Whistleblower Protection Rule

Freiberger Haber LLP on

We have often written about the SEC’s whistleblower program and, in particular, the success of the program with respect to detecting and preventing violations of the federal securities laws. The success of the program...more

Seward & Kissel LLP

Employment Law Alert: Recent SEC Fines for Failure to Provide Whistleblower Protections

Seward & Kissel LLP on

Rule 21F-17 of the Securities Exchange Act of 1934 (“Rule 21F-17”), adopted under Dodd-Frank, prohibits employers from “tak[ing] any action to impede an individual from communication directly with [SEC staff] about a possible...more

Goodwin

SEC Sues and Settles Claim Against Investment Adviser Representative For “Cherry-Picking Scheme” After Entry of Cease and Desist...

Goodwin on

​​​​​​​On September 13, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a settlement with investment advisory firm Buckman Advisory Group LLC (“Buckman Advisory”) and its CEO Harry Buckman Jr. to settle...more

Stinson - Corporate & Securities Law Blog

SEC Exams Looking for Whistleblower Violations

SEC staff in the Office of Compliance Inspections and Examinations are examining compliance with key whistleblower provisions arising out of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The staff is...more

Proskauer - The Capital Commitment

SEC Announces Record Number of Investment Adviser Cases for FY 2016

The Securities and Exchange Commission today announced its enforcement results for fiscal year 2016, reaching new highs in the number of actions filed and money ordered forfeited through disgorgement and penalties. The SEC...more

Proskauer - The Capital Commitment

Whistleblower Concerns for Private Fund Advisers – Seven Mistakes To Avoid

As we have previously observed, private fund advisers face a difficult challenge when SEC guidance (in the form of a speech or a public enforcement order) indicates that certain long-standing practices may be contrary to the...more

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