Last August, we reported on two significant cease-and-desist orders issued by the SEC that, for the first time, found certain language in the confidentiality and release provisions of separation agreements to violate the SEC’s Rule 21F-17(a), which precludes anyone from impeding any individual (i.e., a whistleblower) from communicating directly with the agency.[1] Since then, the SEC has continued its aggressive oversight of separation and confidentiality agreements, with substantial repercussions for some employers. These orders, a select number of which we summarize ...
Twice in the past two weeks, the Securities and Exchange Commission (“SEC” or “Commission”) issued a cease-and-desist order settling proceedings against companies for using confidentiality and waiver of claims provisions in employee separation or severance agreements that violate an SEC rule promulgated after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”). The rule in question is designed to encourage and allow whistleblowers to freely disclose information to the SEC without impediments and ensure that they are (and ...
Recent Updates
- Watch: Change Is Coming from the EEOC—but When? - Employment Law This Week
- The EEOC Moves to End EEO Reporting – Comments Invited Through August 24
- Watch: New York Employers Face New Restrictions on Severance, Tuition Repayment, and Sick Time - Employment Law This Week
- Attention Connecticut Warehouse Employers: Deadline for New Quota Notices Approaching
- New Jersey Department of Labor’s Guidance Clarifies Expanded Job Protected Leave Rights for Employees