SEC Settles Charges for Violation of Whistleblower Program’s Prohibition of Impediments to Communications Regarding Possible Securities Law Violations

SEC Settles Charges for Violation of Whistleblower Program’s Prohibition of Impediments to Communications Regarding Possible Securities Law Violations

Aug 12, 2016

Client Alert

Brownstein Client Alert, August 12, 2016

On August 10, 2016, the Securities and Exchange Commission (SEC) announced a settlement with BlueLinx Holdings Inc. concerning alleged violations of the Dodd-Frank Whistleblower Program’s prohibition on impeding whistleblower communications.

The Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted on July 21, 2010, added Section 21F to the Exchange Act to create what is often referred to as the “Dodd-Frank Whistleblower Program.” The SEC enacted Exchange Act Rule 21F-17(a) providing that no person may take any action to impede a whistleblower from communicating directly with the SEC about a possible securities law violation, including by enforcing or threatening to enforce a confidentiality agreement.

Click on PDF above to read entire article.

Meet The Team

Thomas J. Krysa Shareholder T 303.223.1270 tkrysa@bhfs.com
Rikard D. Lundberg Shareholder T 303.223.1232 rlundberg@bhfs.com