Whistleblower Program - Opportunity to Cure Defect 1733

  • Where can I find the NASDAQ rules for implementing whistleblower programs, and the ‘opportunity to cure defect’ requirements?
    I am implementing a whistleblower program for our company now, but realize it should have been done by our shareholder meeting in 2004. The SEC’s final ruling puts the burden on the individual exchange to make rules on how to govern opportunity to cure defect. I have read the Sarbanes Oxley act, Section 301, and have read the SEC’s final ruling 33-8220, and Rule 10a of the Exchange Act. None of these documents point to the specific rules set up by NASDAQ; they merely suggest that NASDAQ implement rules.
    I don’t know how to determine where NASDAQ addresses this ‘opportunity to cure defect’ issue without someone giving me the reference. Can someone please point me in the right direction? Where does NASDAQ specifically address the opportunity to cure defects related to whistleblower compliance?

  • Hi and welcome to the forums 🙂 … I found a # of good links in a quick Google search that might help
    Please add www and paste into your browser
    google.com/search?hl=en-and-q=sox whistleblower program
    The Requirements of the Sarbanes-Oxley Act
    Section 301(4) of the Sarbanes-Oxley Act (SOX Act) requires that public companies establish procedures for the receipt, retention, and treatment of complaints received by the issuer regarding accounting, internal accounting controls, or auditing matters, and procedures for the confidential, anonymous submission, by employees of the issuer, of concerns regarding questionable accounting or auditing matters. The SOX Act prohibits public companies from taking any retaliatory action against an employee for commencing or participating in an investigation of conduct the employee reasonably believes violates U.S. securities or antifraud laws.

  • Hi there,
    You sound like you are in the beginning stages of SOX implementation. Please feel free to contact me with questions / concerns. I’d be happy to help as I can.
    Best of luck,
    Teresa Bockwoldt

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