SEC Urges Court to Rule Anti-Retaliation Protection Extends to Internal Reporters

IA Watch Weekly Briefing
January 19, 2015

Jordan A. Thomas comments on whistleblower retaliation protection under the SEC's whistleblower program

Five years after Congress approved an expanded whistleblower program for the SEC, a fundamental question remains unresolved with increasing signs that the nation's high court could be asked to answer it.

The question: Must a whistleblower have reported his allegations to the SEC to qualify for protection against retaliation?

"This is an important issue for all parties," including advisory firms, says Jordan Thomas, a partner with Labaton Sucharow in New York, who represents whistleblowers.

An answer to that question could encourage or dissuade someone from going to a firm's compliance department with an allegation.