Skip to main content

Clifford Chance

Clifford Chance


Supreme Court Provides Much-needed Clarity to Dodd-Frank Act Whistleblower Status

22 February 2018

On February 21, 2018, the U.S. Supreme Court ruled that individuals who make internal disclosures of alleged unlawful activity—as opposed to those who report wrongdoing to the Securities Exchange Commission ("SEC")—are not protected as "whistleblowers" under the Dodd Frank Act, overturning the Ninth Circuit's holding in Somers v. Digital Realty Trust Inc. and resolving a hotly contested circuit split. The decision provides much-needed clarity for businesses, which now have clear guidelines regarding who qualifies for "whistleblower" protection.

Download PDF