Regulatory Compliance Association Reviews

Update on Whistle-blower Liability Impacting Asset Managers

Practice Edge 02

Update on Whistle-blower Liability Impacting Asset Managers™

Date: October 14, 2014
General Session: 12 Noon to 1:30 PM
Location: Webcast (Free)

Interested in Continuing Compliance Education™, CLE or CPE (A & A hours), attend via the RCA’s Online University (On Demand) – free for Practice Edge Elite Members

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The SEC’s whistleblower program has been in effect for more than three years.  The number of complaints to the SEC is on the rise, with more than 3200 complaints having been made in fiscal year 2013.  More than $45 million in incentive awards to whistleblowers have been made to date.  Just this summer, the SEC settled a claim against an asset manager that included allegations of retaliation against a whistleblower.  Are you prepared to handle a whistleblower complaint?  Do you know how to avoid a retaliation claim?  This presentation will cover the key developments over the past three years in the SEC’s whistleblower incentive and protection program.  The program will update you on the SEC’s handling of complaints and determination of awards, and on the courts’ recent decisions concerning whistleblower issues.  The speakers will also discuss strategies for managing whistleblower complaints as part of an effective compliance program and for protecting employers against claims of retaliation.

 Students will master the following at the conclusion of this session:

• Review nature of whistleblower complaints since inception of program

• Analyze bases of incentive awards to date

• Review key judicial decisions relating to whistleblower claims

• Determine scope of whistleblower protections

• Apply lessons learned to improve existing compliance programs, including with regard to:
* Use of internal reporting mechanisms
* Use of confidentiality agreements

• Apply lessons learned to improve existing employment policies that help protect against retaliation claims

Session Chairman:
Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellow from Practice:
Kathleen N. Massey, JD, Partner in White Collar and Securities and Litigation Practice, Dechert, LLP

Guest Lecturers:

J. Ian Downes, JD, Counsel in Labor and Employment Group, Dechert, LLP