SOX Key Provisions
SOX Compliance
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SOX Section 806: Sarbanes Oxley Whistleblower
SEC. 806. PROTECTION FOR EMPLOYEES OF PUBLICLY TRADED COMPANIES WHO PROVIDE EVIDENCE OF FRAUD.
Sarbanes-Oxley encourages the disclosure of corporate fraud by protecting employees of publicly traded companies or their subsidiaries who report illegal activities. Section 806 of Sarbanes Oxley the Act authorizes the U.S. Department of Labor to protect whistleblower complaints against employers who retaliate and further authorizes the Department of Justice to criminally charge those responsible for the retaliation.
Under Section 806 of SOX, an employee engages in protected whistleblower conduct by providing information that he or she reasonably believes is a violation of:
federal mail, wire, bank, or securities fraud
federal law relating to fraud against shareholders
any rule or regulation of the Securities and Exchange Commission (SEC)
Section 806 of SOX extends its protection to any whistleblower who is an officer, employee, contractor, subcontractor, or agent of:
a publicly traded company
a subsidiary of a publicly traded company
a nationally recognized statistical ratings organizations (NRSROs)
Section 1107 of SOX makes it a crime for a person to knowingly retaliate against a whistleblower for disclosing truthful information to a law enforcement officer regarding an alleged federal offense.