The SEC’s Office of Compliance Inspections and Examinations (OCIE) recently published a risk alert noting that the SEC exam staff intends to examine registrants’ compliance with the Dodd-Frank Act’s whistleblower provisions. OCIE intends to examine registered advisers for compliance, in light of recent enforcement cases the SEC has filed based on violations of the Dodd-Frank whistleblower rules resulting from confidentiality or severance agreements.
Please see Proskauer’s client alert OCIE Staff to Examine Registered Advisers’ Policies and Agreements for Whistleblower Rule Compliance to read more about:
- the type of documents that SEC examiners might request,
- what the exam staff is looking for, and
- what kinds of remedial actions are at stake.
For more information, please see our previous guidance: