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MAKING SENSE OF DODD-FRANK

The Dodd-Frank Act has broad and deep implications that will touch every corner of financial services and multiple other industries. This site, developed and maintained by attorneys at Stinson Leonard Street, is dedicated to making sense of this complex legislation and helping businesses understand how it will affect them specifically. Our Bloggers »

Dodd-Frank

Courts Begin to Split on Whistleblower Protection

by   |   July 20, 2013

The Fifth Circuit has held in Asadi v. G.E. Energy (USA), LLC that a whistleblower must provide information to the SEC in order to be protected by the Dodd-Frank anti-retaliation provisions.  The reasoning is pretty simple.  That’s the way the statute defines the term “whistleblower.”  The Court went as far as to reject the definition of “whistleblower” in the SEC’s rules.

We understand this to be the first appellate court decision on the issue.  As we have noted, district courts have ruled differently on the issue.

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