|
Sarbanes-Oxley News
Article:
Panel Favors Bank in Whistleblower Case
A small Virginia Bank fired its CFO in 2002 after he claimed that the president misstated the bank's income and was involved in insider trading. The CFO was the first person to seek protection under the Sarbanes-Oxley Act (SOX) whistleblower protection provision, but the Department of Labor's Administrative Review Board has just ruled in the bank's favor. The bank will not reinstate the CFO who plans to appeal the decision. The Board decided that the ousted CFO was not covered by the Sarbanes-Oxley Act because he "could not have reasonably believed that Cardinal misstated its financial condition."
The Sarbanes-Oxley News Article
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
Reynolds American Selects OpenPages FCM for Sarbanes-Oxley Compliance.
|
