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Simply complaining of wrongdoing within the employee’s company does not trigger the protections of the law, thereby insulating securities firms from at least some whistleblower lawsuits. (Photo: Diego M. Radzinschi)

The U.S. Supreme Court on Wednesday narrowed the scope of whistleblower protectionunder the Dodd-Frank Act, ruling unanimously that employees must first report alleged securities violations to the U.S. Securities and Exchange Commission.

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