The Securities and Exchange Commission (SEC) has fined privately held energy company Monolith Resources $225,000 for using a severance agreement that allegedly deprived departing employees of the ability to qualify for whistleblower awards under the Dodd-Frank financial reform law. Monolith has agreed to the SEC’s September 8 cease and desist order and has modified its separation agreement to exempt whistleblower bounties and notified employees who had signed the previous agreement that it does not limit their ability to obtain a whistleblower bounty payment.
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