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Showing 2 posts in Dodd-Frank.

Second Circuit: Dodd-Frank Act's Whistleblower Protections do not Extend to Foreign Tipsters

The Second Circuit ruled Thursday that the Dodd-Frank Act's whistleblower protections do not cover whistleblowers overseas, siding with a foreign employer in a case brought by a former employee alleging that he was fired after reporting alleged fraud relating to events that occurred abroad. More ›

Connecticut Court: Dodd-Frank "Whistleblower" Protection Extends to Informal SEC Complaints

A federal district court in Connecticut this week held that the federal Dodd-Frank Act protects a larger class of “whistleblowers” than many previously thought. In allowing the claimant’s “whistleblower" retaliation claim to survive a motion to dismiss, the judge ruled that Dodd-Frank’s definition of “whistleblower” was broad enough to protect not only those who file official complaints with the Security and Exchange Commission (SEC), but also those who provide the SEC with informal letters complaining of unlawful practices. The judge rejected concerns that such an interpretation would allow Dodd-Frank’s anti-retaliation provision — with its longer statute of limitations and double-pay awards – to effectively swallow the corresponding provisions of the (less claimant-friendly) Sarbanes-Oxley Act: “the Dodd-Frank Act appears to have been intended to expand upon the protections of Sarbanes-Oxley,” the judge noted, “and thus the claimed problem is no problem at all.” More ›

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