Senators Decry 'Narrow' Whistleblower Reading

Law360, New York (September 10, 2008, 12:00 AM EDT) -- Two U.S. senators who wrote the Sarbanes-Oxley Act's whistleblower protection provisions have lambasted the U.S. Department of Justice for its narrow interpretation of the law, which they say renders it largely ineffective.

On Tuesday, Sen. Patrick Leahy, D-Vt., and Sen. Charles Grassley, R-Iowa, wrote to U.S. Secretary of Labor Elaine Chao to object to a reading of SOX's whistleblower protection provisions that excludes employees of public corporate subsidiaries.

The senators wrote in their letter that they were “dismayed” to learn that the labor department has been...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.