Category Archives: SEC

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Supreme Court Narrowly Interprets “Whistleblower” under Dodd-Frank, Foreclosing Protections for Those Who Fail to Report Issues to SEC

The Supreme Court has resolved a circuit split on whether Dodd-Frank’s whistleblower protections apply only to employees who report their concerns to the Securities and Exchange Commission (SEC). On Wednesday, in Digital Realty Trust, Inc. v. Somers, the Supreme Court ruled 9-0 in favor of limiting the Dodd-Frank Act’s definition of whistleblower to those who … Continue Reading

SEC Encourages Advisors to Self-Report Fiduciary Violations by June 12, 2018

The SEC announced a self-reporting initiative for investment advisors who admit violations of the federal securities laws relating to certain mutual fund share class election issues while promptly returning money to harmed investors. The initiative is entitled the “Share Class Selection Disclosure Initiative” and is focused on those advisors who have put clients into high-fee … Continue Reading