NT Lakis lawyers have filed written comments with the federal Securities and Exchange Commission (SEC) in support of changes the agency is proposing in order to clarify and tighten the regulations implementing the whistleblower anti-retaliation and bounty hunter provisions of the ten-year-old “Dodd-Frank” financial reform law.
The agency is proposing changes necessary to comply with the Supreme Court’s recent 9-0 ruling in Digital Realty Trust v. Somers, which held that the SEC had gone too far in interpreting the scope of Dodd-Frank’s whistleblower retaliation protection coverage.
In addition to these conforming changes, the SEC is also proposing useful clarifications, both to the anti-retaliation provisions as well as the bounty hunter rules and procedures, that should help covered entities better understand their compliance obligations.
Members of the Center for Workplace Compliance (CWC) can read more here.