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Law And Ethics Essay

946 words - 4 pages

Whistleblowing and Sarbanes-Oxley Due
Gbemisola Salako
Dr. Oris Guillaume
LEG 500 – Spring/ 2015
April 21, 2015


Question # 1- Describe the key characteristics of a whistleblower, and briefly summarize one (1) researched instance of whistleblowing in one (1) publicly traded company within the last 12 months. Include the details of the issue that the whistleblower reported and the effect of the whistleblower’s actions on both the whistleblower himself and the company.
Whistleblowing can be described as an instance whereby an employee reports suspected wrongdoing such as corruption, mismanagement or corruption at work. It is referred to as making a disclosure in the interest of the ...view middle of the document...

The company also failed to disclose that its internal reviews had identified problems (Stempel, 2014).
Keith Edwards was employed at JPMorgan from 2003-2008 where he had overseen the company’s government insurance unit in regards to residential lending. The bank had pushed defective loans to the agencies involved. He was seen as a courageous fellow who had to do the right thing regardless of what the backlash might be and he was also willing to take personal and professional risk. Mr. Edwards was rewarded for his act which led to government recovering its money (Abrams, 2014).
JPMorgan Chase & Co was held liable for its actions which caused the company money and a guilty verdict for violating rules pertaining to the federal mortgage insurance program. The company reached a settlement agreement with the government (Abrams, 2014).
Question # 2- Decide whether or not the whistleblower was justified in reporting the company’s actions. Provide a rationale for your response.
The whistleblower in the above summarized case was justified in reporting the company’s actions as it is a justification of moral obligations to himself, the public and the government even if it means him taking personal and professional risks. It is also in response to the Duty of Loyalty. He had the opportunity of shifting people’s mindset from the negative to the positive. He felt morally driven to report an ongoing issue without looking back to the consequences of his action (Heumann, et al., 2013).
This whistleblower acted in accordance with a recognized ethical or legal mandate. The whistleblower’s action is to correct an extensive harm to the general public and not just based on his individual moral conviction (Heumann, et al., 2013).
Question # 3- Examine the extent to which the whistleblower would be protected under the Sarbanes-Oxley Act. Justify your response.
The Sarbanes-Oxley Act of 2002 (SOX) was proposed to decrease fraud , partly by requiring CFO’s and CEO’s to endorse their signature on the accuracy of their company’s financial...

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