Sarbanes-Oxley Act News

ExxonMobil Ordered to Reinstate, Pay $800,000 in Back Wages to Employees Who Leaked Info

The U.S. Department of Labor’s Occupational Safety and Health Administration ordered ExxonMobil Corp. to immediately reinstate two employees and pay them more than $800,000 in back wages, interest and compensatory damages. A federal whistleblower investigation found the company terminated them …

OSHA Says Wells Fargo Owes Former Exec $22M for Improper Firing

A former Wells Fargo executive is due $22 million after an investigation by the Occupational Safety and Health Administration (OSHA) concluded the bank violated whistleblower protections under the Sarbanes-Oxley Act. The amount owed includes back wages, interest, lost bonuses and …

Jury Sides with Fidelity in 10-Year Case Against Employee Who Alleged Retaliation

A U.S. jury on Tuesday sided with Fidelity Investments in rejecting a claim the mutual funds company retaliated against a former employee after she complained that it potentially defrauded investors by incorrectly calculating expenses. Jackie Lawson, a former senior director …

Comcast Settles Over Late Founder’s Insurance

Comcast Corp. paid $490 million this year to unwind obligations under life insurance policies tied to late founder Ralph Roberts and his wife Suzanne, a remnant of an era when generous executive perks received less investor scrutiny. The payments, some …

N.Y. Regulator Lawsky Says Banks Need Money-Laundering Spot Checks

New York’s banking regulator floated a plan Wednesday to spot-check banks’ money laundering controls and hold executives accountable if they fail. Benjamin Lawsky, superintendent of New York’s Department of Financial Services, made the remarks in a speech at Columbia Law …