John F. Fullerton III, a Member of the Firm who advises financial institutions and other corporate employers on employment and whistleblower related matters, discusses the pros and cons of whistleblower programs and the key issues faced by employees and employers in the new and growing area of whistleblower law.
With the passage of the Sarbanes-Oxley Act in 2002 and the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, the legal landscape has shifted dramatically to encourage and protect employees who come forward to “blow the whistle” on fraud and related corporate wrongdoing. Not only do both statutes contain protection for employees against retaliation, but Dodd-Frank also authorized the SEC to provide monetary awards of between 10 percent and 30 percent to eligible individuals who voluntarily come forward with original information that leads to an enforcement action in which over one million dollars in sanctions is recovered. These whistleblower programs have created substantial financial incentives for potential whistleblowers and significant compliance challenges for covered employers.
For more information and to register for the webinar, visit Lawline.com.