{"id":1142,"date":"2021-06-28T14:40:18","date_gmt":"2021-06-28T14:40:18","guid":{"rendered":"http:\/\/localhost\/?p=1142"},"modified":"2021-06-28T14:40:18","modified_gmt":"2021-06-28T14:40:18","slug":"sec-sanctions-firm-for-policies-that-theoretically-could-have-curtailed-whistleblowers","status":"publish","type":"post","link":"https:\/\/bdia.pli.edu\/index.php\/2021\/06\/28\/sec-sanctions-firm-for-policies-that-theoretically-could-have-curtailed-whistleblowers\/","title":{"rendered":"SEC Sanctions Firm for Policies that (Theoretically Could Have) Curtailed Whistleblowers"},"content":{"rendered":"<p>On June 23, 2021, the U.S. Securities and Exchange Commission (the \u201cCommission\u201d) entered an\u00a0<a href=\"https:\/\/www.sec.gov\/litigation\/admin\/2021\/34-92237.pdf\" target=\"_blank\">administrative order<\/a>\u00a0(the \u201cOrder\u201d) that, among other things, fined a broker-dealer (\u201cBD\u201d) $208,912 for alleged violations of\u00a0<a href=\"https:\/\/www.law.cornell.edu\/cfr\/text\/17\/240.21F-17\" target=\"_blank\">Rule 21F-17(a)<\/a>, which relates to individuals reporting possible securities laws violations to the Commission (<em>a.k.a.<\/em>, whistleblowers).<\/p>\n<p><strong>Practice Tip:\u00a0<\/strong>While the Order was entered against a broker-dealer, Rule 21F-17(a) applies to all entities subject to the Commission\u2019s jurisdiction (<em>e.g.<\/em>, public companies, broker-dealers, and investment managers). Indeed, the Commission has previously sanctioned public companies and investment advisers for violations of Rule 21F-17(a).<\/p>\n<p><a href=\"https:\/\/www.kilpatricktownsend.com\/Insights\/Alert\/2021\/6\/SEC-Sanctions-Firm-for-Policies-that-Theoretically-Could-Have-Curtailed-Whistleblowers\">Read more here<\/a> for\u00a0both a summary of the Order\u2019s findings, and take-aways for legal and compliance practitioners who support firms that are subject to the Commission\u2019s jurisdiction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On June 23, 2021, the U.S. Securities and Exchange Commission (the \u201cCommission\u201d) entered an\u00a0administrative order\u00a0(the \u201cOrder\u201d) that, among other things, fined a broker-dealer (\u201cBD\u201d) $208,912 for alleged violations of\u00a0Rule 21F-17(a), which relates to individuals reporting possible securities laws violations to the Commission (a.k.a., whistleblowers). Practice Tip:\u00a0While the Order was entered against a broker-dealer, Rule 21F-17(a) &hellip; <a href=\"https:\/\/bdia.pli.edu\/index.php\/2021\/06\/28\/sec-sanctions-firm-for-policies-that-theoretically-could-have-curtailed-whistleblowers\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">SEC Sanctions Firm for Policies that (Theoretically Could Have) Curtailed Whistleblowers<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,24,22],"tags":[],"class_list":["post-1142","post","type-post","status-publish","format-standard","hentry","category-compliance","category-enforcement","category-standard-of-care"],"aioseo_notices":[],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/users\/94"}],"replies":[{"embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/comments?post=1142"}],"version-history":[{"count":0,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/posts\/1142\/revisions"}],"wp:attachment":[{"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/media?parent=1142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/categories?post=1142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bdia.pli.edu\/index.php\/wp-json\/wp\/v2\/tags?post=1142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}