Sarbanes-Oxley
I found this on the web and I thought it would be a good preface before we officially discuss it in class:
With the enactment of the Sarbanes-Oxley Corporate Reform Act of 2002, internal and external whistleblower protection has been extended to all employees in publicly traded companies for the first time. The provisions of Sarbanes-Oxley
- Make it illegal to "discharge, demote, suspend, threaten, harass or in any manner discriminate against" whistleblowers
- Establish criminal penalties of up to 10 years for executives who retaliate against whistleblowers
- Require board audit committees to establish procedures for hearing whistleblower complaints
- Allow the secretary of labor to order a company to rehire a terminated employee with no court hearing
- Give a whistleblower the right to a jury trial, bypassing months or years of administrative hearings
Is this in line with what we drew out today? What else should be added to this list? Why not apply this rule to private companies as well? There is a penalty of ten years in jail for the executives that retaliate, but this only gives the whistleblower a rehire. Is this sufficient? The whistleblower is sure to encounter forms of harassment that are not addressed here. Are punitive or even treble damages in order? The rest of the whistleblower's life could be ruined and a rehire does not seem sufficient for someone who sacrifices their life for the good of the whole. These people should be regarded as heroes who fight the potentially life threatening battle of obedience to authority. Does anyone remember Stanley Milgram?