The Dodd-Frank Act provides a monetary incentive for whistleblowers that provide the SEC with useful information. The Act includes parallel non-retaliation provisions for whistleblowers. As a result, human resource professionals need to be aware of the ramifications on their internal policies.
Public companies will also have to implement clawback policies for incentive pay in the event of an accounting restatement. Many of the these provisions of the Dodd-Frank Act overlap with similar provisions of the Sarbanes-Oxley Act, resulting in two compliance regimes.
Check back for more employment-related information as we become more familiar with the Act.