Dodd-Frank Strengthens Whistleblower Protections and Encourages Pursuit of Bounties
According to Section 929A of Dodd-Frank, the new regulations expand the whistleblower protections of Sarbanes-Oxley to include those employees of non-publicly traded subsidiaries. Dodd-Frank also strengthens the whistleblower protection including strong new monetary incentives provided to employees to report compliance issues to the SEC and CFTC.
If your publicly traded organization has non-public subsidiaries, you need to review your internal whistleblower policies immediately to ensure you have reporting mechanisms in place for those employees. Employees are being encouraged more and more to come forward and provide information in exchange for substantial bounties by the US government.
| Posted by Shannon Walker on Jul 29, 2010 | ||
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