Insights & Regulatory Updates
Strengthening Whistleblower Protections: SEC Enforcement and Key Actions for Companies
On September 9, 2024, the U.S. Securities and Exchange Commission (SEC) announced settlements with seven public companies for violations of whistleblower protections under Rule 21F-17 of the Securities Exchange Act of 1934. This latest enforcement action underscores the SEC's growing commitment to ensuring whistleblowers can report potential securities violations without fear of retaliation or obstruction. Companies are now called to reassess their policies to comply with these important protections.
SEC's Push for Sanctions Against Elon Musk: Implications for Corporate Governance
On September 20, 2024, the U.S. Securities and Exchange Commission (SEC) announced its intention to seek sanctions against Elon Musk, the CEO of Tesla and SpaceX and owner of X (formerly Twitter). This move comes in light of Musk’s failure to comply with a court order to testify regarding his $44 billion acquisition of Twitter. The implications of this case extend beyond Musk himself, raising significant questions about corporate governance, transparency, and the responsibilities of high-profile executives.