http://www.cfo.com/article.cfm/5407274?f=alerts
Whistle-blower Shield Stops at Border (Court rules that some overseas workers are not protected by this provision of Sarbanes-Oxley) Stephen Taub, CFO.com January 18, 2006
The whistle-blower protections of SOX do not extend to foreign workers employed by the overseas subsidiaries of U.S. companies, according to a court ruling reported by The National Law Journal. The Judge wrote that is this type of provision was meant to apply to foreign entities, that Congress would have specified this. Also that it did not set aside funds, provide for translators, etc. This ruling is related to an Argentinian in 2002 working for Brazilian subsidiaries of Boston Science Company who was fired in retaliation for reporting to the parent company how the subsidiares had inflated revenues. Also included in the article is discussion of the controversy of whistle blowing in Europe.
Whistle-blower Shield Stops at Border (Court rules that some overseas workers are not protected by this provision of Sarbanes-Oxley) Stephen Taub, CFO.com January 18, 2006
The whistle-blower protections of SOX do not extend to foreign workers employed by the overseas subsidiaries of U.S. companies, according to a court ruling reported by The National Law Journal. The Judge wrote that is this type of provision was meant to apply to foreign entities, that Congress would have specified this. Also that it did not set aside funds, provide for translators, etc. This ruling is related to an Argentinian in 2002 working for Brazilian subsidiaries of Boston Science Company who was fired in retaliation for reporting to the parent company how the subsidiares had inflated revenues. Also included in the article is discussion of the controversy of whistle blowing in Europe.
<< Home