Labaton Sucharow Partner Jordan A. Thomas presented in a six-part series hosted by West LegalEdcenter, part of Thomson Reuters.
Since the passage of the Sarbanes-Oxley Act of 2002, most organizations have well-established procedures, including anonymous hotlines, for the internal reporting of misconduct. Despite these enhanced reporting requirements, there has been a long series of scandals that were not detected by or reported to corporations and law enforcement authorities. In response to this serious problem, the Dodd-Frank Wall Street Reform and Consumer Protection Act required the Securities and Exchange Commission to establish a whistleblower program that offers significant employment protections and potential monetary awards to individuals who report possible violations of the federal securities laws. Officers, directors, and other corporate employees are eligible to participate in this important investor protection program. This presentation provided practical guidance for corporate insiders and other interested parties about these insiders rights and duties when they become aware that their organization is engaging in unlawful conduct in light of the new SEC Whistleblower Program.
- Fiduciary duties owed by officers, directors and other insiders to the corporation and its shareholders
- Overview of the whistleblower provisions of the Dodd-Frank Act
- When, where and how are corporate insiders required or permitted to report possible violations of the securities laws
- Ways responsible organizations and insiders can establish a culture of integrity that will deter and stop illegal or unethical conduct
- Recommendations for corporate whistleblowers