SEC Charges CBRE, Inc. with Violating Whistleblower Protection Rule
CBRE, Inc., a Dallas-based commercial real estate firm and subsidiary of CBRE Group, Inc., settled charges with the Securities and Exchange Commission (SEC) for violating the SEC’s whistleblower protection rule. Between 2011 and 2022, CBRE required employees seeking separation pay to sign a release stating they had not filed complaints against the company with any federal agency. The SEC found that this practice discouraged potential whistleblowers from reporting complaints to the Commission. Upon learning of the SEC’s investigation, CBRE cooperated, revised its releases for compliance, and informed over 800 affected employees about their whistleblower protection rights. CBRE agreed to a $375,000 civil penalty without admitting wrongdoing, and the SEC considered its cooperation and remedial efforts in the settlement.
“It is critical that employees are able to communicate with SEC staff about potential violations of the federal securities laws without compromising their financial interests or the confidentiality protections of the SEC’s whistleblower program,” said Eric Werner, Regional Director of the SEC’s Fort Worth Office. “We commend CBRE for its swift and far-reaching remediation and for its high level of cooperation with our staff, which is reflected in the terms of the resolution.”
If you feel you have a whistleblowing case, please reach out to us at findjustice.com. M&S attorneys were at the forefront of the passage of the Dodd-Frank statute, worked closely with the SEC and the CFTC to implement the whistleblower programs, and have an unmatched understanding of the law and the programs’ rewards procedures. We represent whistleblowers before both Commissions and are committed to helping our clients protect the investing marketplaces, level the playing field for honest corporations, and receive proper compensation for any retaliation they experience as well as any whistleblower awards due to them.