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US SEC Whistleblower Programme for UK Lawyers: Eligibility, Rewards, Employer Obligations, Anti-retaliation Limits, DOJ Pilot
PRACTICE NOTES
US SEC Whistleblower Programme for UK Lawyers: Eligibility, Rewards, Employer Obligations, Anti-retaliation Limits, DOJ Pilot
People in the UK submit more tips to the US Securities and Exchange Commission (SEC) than almost any other nation. Yet many workers and organisations here know little about the SEC and its whistleblower programme. As numerous UK companies may fall within the programme’s reach, employment practitioners in the UK should understand it to advise clients properly. This Practice Note outlines the SEC whistleblower rewards programme, which permits individuals to report legal breaches to the SEC anonymously, and pays awards where their information results in a penalty exceeding US$1m. It sets out the broad categories of UK companies regulated by the SEC, who may take part in the rewards scheme, and the US protections available to whistleblowers who disclose securities law violations. It also considers issues for UK employers subject to SEC oversight and for their staff. For general UK
Employment
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