SEC Warns In-House Attys Against Whistleblower Contracts
Law360, Washington (March 14, 2014, 5:16 PM EDT) -- Attorneys who draft contracts offering incentives for employees to keep alleged securities fraud whistleblower complaints in-house should think twice, the U.S. Securities and Exchange Commission's whistleblower chief told lawyers on Friday, saying they may be disciplined for doing so.
At remarks before the Georgetown University Law Center Corporate Counsel Institute, the SEC's whistleblower chief, Sean McKessy, said he was keeping an eye out for creatively drafted contracts attempting to incentivize company whistleblowers from bringing alleged company wrongdoing to the agency's attention.
"Be aware that this is something we are very concerned about. If you're spending a lot of your time trying...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!