Sarbanes-Oxley Act (SOX)

The Sarbanes-Oxley Act (SOX), enacted in response to major corporate scandals, introduced reforms to improve corporate governance, accounting practices, and financial reporting. This included establishing independent Audit Committees within companies and requiring confidential employee reporting channels. Significantly, SOX also offered the first-ever whistleblower protections for employees of publicly traded companies. 

It’s important to note that SOX provisions are integrated into the Securities and Exchange Act (SEA), meaning violating SOX is considered a violation of the SEA. 

While SOX itself doesn’t have a specific whistleblower reward program, the Dodd-Frank Act offers compensation for reporting any securities law violations, including those related to SOX. Therefore, whistleblowers who report SOX violations should utilize the Dodd-Frank whistleblower reward program. 

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