DOL Issues Final Rule on SOX Whistleblower Procedures: U.S. Department of Labor’s Final Rule Maintains Oral Complaint and Economic Restatement Provisions Despite Critical Comments

Sullivan & Cromwell LLP - March 12, 2015
Download

On March 5, 2015, the U.S. Department of Labor (“DOL”) issued its Final Rule governing the procedures for handling retaliation complaints under Section 806 of the Sarbanes-Oxley Act of 2002 (“SOX”).  The Final Rule maintains the provisions of the DOL’s November 3, 2011 Interim Final Rule that allows employees to submit oral, in addition to written, complaints to the Occupational Safety and Health Administration (“OSHA”), and permits provisional orders of “economic reinstatement,” where an employer must provide full pay and benefits until administrative adjudication and any appeals are complete.  The Final Rule also establishes the procedures and time frames for the handling of retaliation complaints by OSHA.