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Sarbanes-Oxley and whistleblowers

Filed in archive SOX by leon on June 05, 2007

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In the past. I have looked at the shortcomings of Sarbanes-Oxley in relation to whistleblowers here and here

A recent paper from Richard Moberly sheds light on why the Act does not deliver.

The paper, Unfulfilled expectations: An empirical analysis of why Sarbanes-Oxley whistleblowers rarely win found that in its first three years, only 3.6 per cent of Sarbanes-Oxley whistleblowers won relief and only 6.5 per cent won appeals through the process.

The paper examines the legal limitations of the Act, with its rigid procedural rules and statutory requirements and makes several suggestions including extending its 90-day statute of limitations to 180 days, fixing up the "burden of proof" provision and clarifying the Act's coverage so that employees can report wrongdoings that are not deemed to be outside the jurisdictionlinks of Sarbanes-Oxley. Finally, it suggests giving employees scope for more participation in the investigation process.


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Permalink: Sarbanes-Oxley and whistleblowers
Tags: Richard  Moberly  whistleblowers  oxley  sarbanes  sarbanes+oxley  oxley+whistleblowers  conrad+black 

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