SEC fines Monolith $225K over violating whistleblower protections
By 
Jeff Dale2023-09-08T20:14:00
Privately held energy and technology company Monolith Resources agreed to pay $225,000 to settle charges by the Securities and Exchange Commission (SEC) it used employee separation agreements that violated whistleblower protection rules.
Monolith agreed to cease and desist from further violations in reaching settlement, the SEC announced in a press release Friday. The agency acknowledged the company’s remedial actions, including its notifying former employees who signed the separation agreements.
From February 2020 to March, Monolith required certain departing employees to waive their rights to monetary whistleblower awards when signing separation agreements, the SEC alleged in its order.
Related articles
-
PremiumSEC crackdown on whistleblower violations a warning on employment contracts
Recent enforcement cases brought by the Securities and Exchange Commission regarding apparent violations of its whistleblower protection rule are proof the agency is taking compliance with the rule “very seriously,” said Enforcement Director Gurbir Grewal.
-
News BriefD. E. Shaw fined $10M for impeding potential whistleblowers
New York-based investment adviser D. E. Shaw & Co. will pay a $10 million penalty to settle charges brought by the Securities and Exchange Commission that the company raised impediments to whistleblowing by employees.
-
News BriefCBRE unit fined $375K over violating whistleblower protections
Commercial real estate services and investment firm CBRE agreed to pay $375,000 to settle allegations by the Securities and Exchange Commission that its separation agreements violated whistleblower protections.
More from Regulatory Enforcement
-
ArticleOFAC cracks down on Iran’s oil trade with new sanctions sweep
More than 50 people and 50 ships connected to a top Iranian official were added to the U.S. Treasury’s sanctions list on Wednesday, according to the Office of Foreign Assets Control.
-
ArticleKentucky is latest state to file suit against Temu for alleged privacy violations
Kentucky took aim at Chinese company Temu, alleging in a lawsuit that it counterfeited popular Kentucky-designed merchandise and violated customers’ privacy.
-
ArticleU.S. Department of Labor cracks down on child labor violations
The Department of Labor is using poultry processing company Mar-Jac Poultry as an example of what will happen when companies repeatedly employ underage workers in hazardous conditions. Hint: Companies can’t pin the blame on staffing agencies.