Whistleblower Provisions of the Dodd-Frank Act

On May 25, 2011, the SEC issued its final rule changes to the Securities Exchange Act of 1934, implementing the whistleblower provisions enacted as part of the Dodd-Frank Act. These provisions authorize the SEC to give substantial monetary awards to whistleblowers who voluntarily provide the SEC with original information that leads to enforcement actions resulting in monetary sanctions exceeding $1 million. The Dodd-Frank Act also expanded the whistleblower protections available under the Sarbanes-Oxley Act.

The whistleblower provisions are likely to have far-ranging repercussions for company compliance programs — and not only for all public companies and entities regulated by the SEC, but also for all organizations that do business with public companies and entities regulated by the SEC. However, your company can prepare for the future by following some basic recommendations, which may help decrease exposure and minimize the risk of lawsuits.

Please join us for our upcoming NDI Checkpoint Web conference, during which Foley Partners Kenneth B. Winer, Samuel J. Winer, Lisa M. Noller, and Paul R. Monsees will discuss the new rules, explain their implications, and highlight the steps you can take to help protect your company.

Foley & Lardner LLP will apply for CLE credit after the program, wherever applicable. Foley & Lardner LLP certifies that this activity has been approved for California MCLE credits by the State Bar of California in the amount of one General credit. Foley & Lardner LLP is a State Bar of California MCLE approved provider. Please note that participants must be in attendance on the date of the event; credit may not be obtained by viewing and/or listening to a program recording after the event.