Sections 801 to 807 of the Sarbanes Oxley Act of 2002 are recognized jointly as the Corporate and Criminal Fraud Accountcapacity Act. The Act details criminal penalties for securities fraud and protects employees-turned-whistleblower of publicly traded providers from retaliatory actions by their employers.
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According to the Corpoprice and Criminal Fraud Accountcapacity Act, it is illegal for any type of individual to lug out the following tasks with respect to files that pertain to federal investigations and bankruptcy filing processes:
Such an illegal activity is punishable by the implace of fines or the maximum of a 20 year jail sentence or both.
This section of the Act faces whistleblower protection. Publicly traded companies cannot threaten, harass or discriminate versus employees that revolve whistleblowers. According to the Act, a whistleblower is an employee who:
Provides indevelopment concerning violations of SEC regulations Files, testifies or participates in proceedings concerning SEC violations
Employees who feel they’ve been discriminated against for turning whistlebreduced deserve to file a complaint with the Secretary of Labor as OSHA is the federal firm enforcing the whistlebreduced provisions of the Corpoprice and also Criminal Fraud Accountability Act.
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Employees that win their discrimicountry instances are entitcaused compensatory dameras and monetary negotiations.
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The Corpoprice and Criminal Fraud Accountcapability Act makes the following illegal through respect to securities fraud:
Individuals or firms cannot knowingly lug out or attempt to carry out schemes that defraud individuals in link with a publicly traded securities Individuals or firms cannot knowingly lug out or attempt to lug out schemes that attain, by fraudulent means any kind of money or building in connection through the purchase or sale of any defense of an issuer through publicly traded securities
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