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The First Five Years of the SEC Whistleblower Program
The Dodd-Frank Act directed that bounties be paid to persons bringing evidence of financial wrongdoing to the Securities and Exchange Commission (SEC). Congress hoped that by making corporate insiders and others with knowledge of securities law violations eligible to receive a reward of 10% to 30% of the SEC's recovery (in excess of $1 million), more financial frauds would be unearthed sooner. With well-publicized SEC settlements now routinely tipping into the tens of millions of dollars, the monetary rewards to a successful tipster might be huge. The Dodd-Frank Act called those tipsters “Whistleblowers,” and the SEC's official Whistleblower program opened for business in August 2011.
We mark the fifth anniversary of the Whistleblower program with this two-part retrospective. This month, we take a broad look at how the program intakes tips from Whistleblowers and what the SEC does with them. Next month, we will look more closely at the program's track record in issuing awards.
Background
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Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Legal Possession: What Does It Mean?
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
The Anti-Assignment Override Provisions
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?