Difference between revisions of "SEC Whistleblower Program"

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Through the Dodd-Frank Act, Congress amended the federal securities laws to include the conduct-and-effects test:
Through the Dodd-Frank Act, Congress amended the federal securities laws to include the conduct-and-effects test:


The district courts of the United States and the United States courts of any Territory shall have jurisdiction of an action or proceeding brought or instituted by the Commission or the United States alleging a violation of section 77q(a) of this title [Section 17(a) of the 1933 Securities Act] involving—
The district courts of the United States and the United States courts of any Territory shall have jurisdiction of an action or proceeding brought or instituted by the Commission or the United States alleging a violation of section 77q(a) of this title [Section 17(a) of the 1933 Securities Act] involving:
#conduct within the United States that constitutes significant steps in furtherance of the violation, even if the securities transaction occurs outside the United States and involves only foreign investors; or
#conduct within the United States that constitutes significant steps in furtherance of the violation, even if the securities transaction occurs outside the United States and involves only foreign investors; or
#conduct occurring outside the United States that has a foreseeable substantial effect within the United States. See [https://www.law.cornell.edu/uscode/text/15/77v 15 U.S.C. § 77v(c)].
#conduct occurring outside the United States that has a foreseeable substantial effect within the United States. See [https://www.law.cornell.edu/uscode/text/15/77v 15 U.S.C. § 77v(c)].