SEC Whistleblower's Program Working…Slowly
September 5, 2014
Jordan A. Thomas advises companies to "be aggressive in your efforts to protect people who report wrongdoing"
The number one reason why people come forward, in Jordan Thomas' experience? Retaliation.
"Companies regularly tell their employees that if you know about wrongdoing, report it. And the vast majority of people do and if they perceive that they've been retaliated against, that breaks their tie to the organization and they no longer care. At that point they want to prove that they're right and they want the company to be held accountable—not only for the wrongdoing now but for retaliating against them.
"If I were giving one piece of advice to responsible organizations, I would say: Be aggressive in your efforts to protect people who report wrongdoing, whether they're right or wrong, because a whistleblower who believes they've been retaliated against is much more likely to report externally."
"Essentially, whistleblowers now have a big brother with a big stick to protect them that they didn't have before. That's good for the SEC whistleblower program and it's good for whistleblowers because now they're more likely to come forward because they know that they're going to be backed up by the SEC."
Please click here for the full article.