SEC Goes After BlackRock for Undermining Its Whistleblower Program

BlackRock Inc. agreed to pay a $340,000 penalty, remove revise its separation agreements and train its employees on the SEC whistleblower program in order to settle SEC charges. The SEC alleged that BlackRock caused its employees to sign agreements that stated they “waive any right to recovery of incentives for reporting of misconduct” in order to receive their monetary separation payments from the firm. The provision was added to the separation agreements after the enactment of the SEC whistleblower program in 2011. Andersen Sleater Sianni represents and protects whistleblowers' rights. Click here to read more about SEC's action against BlackRock.