Financial Services Resource Center for HR: Dodd-Frank/SOX

This item is part of Financial Services Resource Center for HR

Public companies in the financial services industry must comply with the Sarbanes-Oxley Act of 2002 (SOX). SOX requires these organizations to implement an internal ethics program and maintain internal controls to protect against shareholder fraud. Importantly, SOX includes a number of enforcement provisions, including penalties for retaliating against whistleblowers. The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) amended portions of SOX to require the creation of an SEC Office of the Whistleblower. The SEC's Office of the Whistleblower joins similar programs at the Financial Industry Regulatory Authority (FINRA), Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service (IRS) in offering bounties to certain qualified whistleblowers.

XpertHR has the following information to help financial services employers properly comply with SOX, Dodd-Frank and other ethical obligations: