In two recent posts we discussed enforcement actions against Monolith Resources and CBRE, Inc. for violating the SEC’s whistleblower protection rules.  On September 29, 2023, the SEC announced its latest such case, this one against D.E.Shaw and Co. L.P., for using employment agreements that violated the whistleblower protection rules.  This violation resulted in a $10,000,000 civil penalty along with a cease-and-desist order.

You can read more details in the related Order.

All these cases send direct and clear reminders to proactively review employment, termination and similar agreements to assure they do not run afoul of the whistleblower protection rules.

As always, your thoughts and comments are welcome!