Thursday, April 15, 2021
The Sarbanes Oxley Act of 2002 and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 each contain provisions that prohibit employers from retaliating against employees because they blew the whistle on securities fraud. While the acts overlap in some ways, they do not cover all of the same conduct nor share the same processes for bringing a claim under each law. A recent opinion from a federal court of appeals emphasized the differences between the two laws and their processes, serving as a reminder to whistleblowers that an employee seeking to assert rights under either law must follow the procedures as outlined in the appropriate statute.