• (303) 876-0575

Law Offices of Elizabeth “Booka” Smith, LLC Blog


July 2015: Security Exchange Commission Clarifies Scope of Employee Job Protection under the Dodd-Frank Act

In Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, Congress amended the Securities Exchange Act to add Section 21F, entitled “Securities Whistleblower Incentives and Protection.” Section 21F established a series of new incentives and protections for individuals to report violations of federal securities laws. The incentives and protections take essentially three forms: (1) monetary awards for providing information; (2) heightened confidentiality assurances; and (3) enhanced employment retaliation protections. In the wake of the addition of Section 21F there was debate about whether an employee had to externally report an alleged securities law infraction to the SEC in order to receive enhanced retaliation protections under Dodd-Frank. In July, 2015, the SEC published a formal interpretation of Section 21F which makes clear that an employee who reports internally to their employer (e.g., to a supervisor, compliance official, or other person working for the company that has authority to investigate, discover, or terminate misconduct) an alleged infraction of securities laws is entitled to retaliation protection under Dodd-Frank. See 17 C.F.R. Part 241 (“Under our interpretation, an individual who reports internally and suffers employment retaliation will be no less protected than an individual who comes immediately to the Commission.”). The SEC reasoned that providing equivalent retaliation protection to internal and external reporters removes a potentially serious disincentive for employees to first alert the company to the alleged securities law infraction before going to the SEC. The Law Offices of Elizabeth “Booka” Smith, LLC routinely represents executives in the financial sector who harbor concerns that their company may be playing “fast-and-loose” with SEC rules and regulations. If you harbor such concerns and are debating whether and how to report your concerns, or, if you previously reported your concerns and as a result experienced retaliation in the workplace, CONTACT US to schedule an initial consultation to evaluate potential representation.

September 10, 2015: Second Circuit Agrees with the...

By accepting you will be accessing a service provided by a third-party external to https://www.bookalaw.com/

1624 Market Street, Suite 202
Denver, CO, 80202

Tel (303) 876-0575
56 Road L, P.O. Box 601
Silverthorne, CO, 80498

Tel (303) 876-0575

Additional offices for meetings available in:
Boulder; Broomfield/Interlocken; Cherry Creek; Aurora; Downtown Denver; Denver Tech Center; Golden/ Lakewood; Littleton; Louisville and Park Meadows/Highlands Ranch

Disclaimer: Nothing in this website is intended in any way to form an attorney-client relationship or other contract. It is designed solely to provide general information about the practice at the Law Offices of Elizabeth “Booka” Smith. Be mindful of any deadlines you have approaching that relate to your legal situation, and make sure you meet them. The Law Offices of Elizabeth “Booka” Smith does not assume any responsibility for advice given regarding any aspect of your case until you have a signed legal services agreement engaging the firm’s representation. Though the Law Offices of Elizabeth “Booka” Smith may provide a free initial consultation, the firm retains complete discretion in every case to decide whether or not to take your case. The Law Offices of Elizabeth “Booka” Smith makes no guarantees, warranties, or predictions about your case, and past success of Booka Smith or the firm does not ensure the results will be the same.