Securities Regulation -- 2017



Deykes v. Cooper-Standard Auto. Inc.   (6th Circuit)

Whistleblower definition must apply across all Dodd-Frank provisions

The NAM filed an amicus brief in the U.S. Court of Appeals for the Sixth Circuit in a case addressing the definition of a whistleblower under the Dodd–Frank Wall Street Reform and Consumer Protection Act, which is implemented by the Securities and Exchange Commission (SEC). The litigation follows a district court ruling against Deykes, an employee who filed a Dodd-Frank retaliation claim based on his internal reporting of alleged violations of the Foreign Corrupt Practices Act even though he did not meet the definition of a whistleblower. This litigation raises issues of direct concern to manufacturers, many of which are publicly-traded companies and subject to the jurisdiction of the Securities and Exchange Commission. The NAM’s brief explained that the statutory definition of “whistleblower” must be applied across all provisions of Dodd-Frank, including that law’s anti-retaliation provisions. The court granted the appellee's stipulation to voluntarily dismiss the case before oral arguments were held.


Related Documents:
NAM brief  (April 21, 2017)