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Preventing Sarbanes‐Oxley and other Whistleblower claims

Preventing Sarbanes‐Oxley and other Whistleblower claims The increased regulatory scrutiny in recent years of public corporations, broker‐dealers, and other investment companies has led to a wave of legislative and regulatory reforms. Central to these reforms is the Sarbanes‐Oxley Act (“SOX” or “the Act”), enacted in July 2002. Intended to restore investor confidence in ailing financial markets reeling from a spate of highly publicized corporate governance scandals, the Act reforms the oversight of corporate accounting practices and addresses a wide range of corporate accountability issues. In addition, the Act significantly raises the protections for employees of public companies who report conduct that they reasonably believe constitutes a violation of federal law relating to financial, securities, or shareholder fraud. Thus, the Act creates new federal administrative and judicial remedies for employees who believe they have been retaliated against for blowing the whistle on corporate fraud. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Investment Compliance Emerald Publishing

Preventing Sarbanes‐Oxley and other Whistleblower claims

Journal of Investment Compliance , Volume 5 (3): 6 – Jul 1, 2004

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1528-5812
DOI
10.1108/15285810410636532
Publisher site
See Article on Publisher Site

Abstract

The increased regulatory scrutiny in recent years of public corporations, broker‐dealers, and other investment companies has led to a wave of legislative and regulatory reforms. Central to these reforms is the Sarbanes‐Oxley Act (“SOX” or “the Act”), enacted in July 2002. Intended to restore investor confidence in ailing financial markets reeling from a spate of highly publicized corporate governance scandals, the Act reforms the oversight of corporate accounting practices and addresses a wide range of corporate accountability issues. In addition, the Act significantly raises the protections for employees of public companies who report conduct that they reasonably believe constitutes a violation of federal law relating to financial, securities, or shareholder fraud. Thus, the Act creates new federal administrative and judicial remedies for employees who believe they have been retaliated against for blowing the whistle on corporate fraud.

Journal

Journal of Investment ComplianceEmerald Publishing

Published: Jul 1, 2004

Keywords: Financial institutions; Investments; Investment funds; Investors; Investments

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