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Stories of Interest
- Latham & Watkins Chair Bill Voge Resigns Over Sexual Messages
- Jefferies Equity Trading Slips Even as Volatility Increases
- Can Jes Staley Fix Barclays Fast Enough?
- Deutsche Bank Slides 6.2% After Warning of $550Mn Q1 Headwind
- UBS to Pay $230Mn to N.Y. in Mortgage Securities Probe
- With At Least 190 Cryptocurrency Exchanges, Here's How to Pick Right One
- Mark Zuckerberg Lost $9Bn in Wealth Over Past 48 Hours
- Keynote Address, ICI 2018 Mutual Funds & Investment Management Conference
- SEC Announces Largest-Ever Whistleblower Awards
- From a $126Mn Bonus to Jail: Fall of a Star Trader
- Barclays Shares Surge as Activist Takes 5.2% Stake
- Standard Chartered Puts Compliance Head Neil Barry on Leave
- Goldman Sachs Pays Women in U.K. 56% Less Than Male Colleagues
- Deutsche Bank Leads Bulls with Higher Trading Revenue Forecast
- SocGen Cuts Traders' Bonus Pool by a Quarter
- Point72's Haynes Resigns as Cohen Seeks a New Type of Leader
- Steve Eisman, Who Called the 'Big Short' During Financial Crisis, Sleeping Easy Now
- Bitcoin's ‘Death Cross’ Looms as Strategist Eyes $2,800 Level - From Current Price of $8,120
- U.K. Brokerage Firm, Investment Manager, CEO Manipulated Trading in U.S. Microcap Stocks - SEC
- Billionaire Investor John Paulson's Hedge Fund Is 'Rightsizing', And a Bunch of Senior Staff are Leaving
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NEWSLETTERS & ALERTS
Rules & Regulations
Whistleblowers Beware Following Supreme Court Ruling
In an opinion written by Justice Ruth Bader Ginsburg, the Supreme Court ruled unanimously in favor of a company - Digital Realty Trust - that fired an employee for reporting to company officials that other employees were hiding cost overruns.Simply stated, employees must bring potential corporate wrongdoing directly to the attention of the SEC in order to get that protection, Justice Ginsburg wrote.
The whistleblower in this case is not shielded by anti-retaliatory laws under Dodd-Frank, the financial reform act passed in 2010, and under parts of the Sarbanes Oxley financial transparency laws, which were signed into law following the collapse of Enron.
According to Phillips & Cohen partner Sean McKessy, legal at experts had warned that if Digital Realty won its case, then whistleblowers are more likely to go straight to federal investigators - which could end up leading to more fines or criminal charges for corporate malfeasance.