Recent Developments in Whistleblower Protections: Legal Analysis and Practical Implications
Sarbanes-Oxley Act, Dodd-Frank and the Consumer Financial Protection Act impose overlapping anti-retaliation provisions that generally prohibit retaliation against corporate “whistleblowers.” Recent headlines of whistleblower awards underscore the fact that, even if a company’s economic exposure arising from the alleged of these provisions may be relatively circumscribed – generally limited to amounts based on the compensation of the employee how is allegedly retaliated against – the “real world” exposure, in the form of reputational and regulatory risk, can be significantly greater.
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