U.S. Attorney General Eric Holder yesterday called for “legislative changes to make it easier to hold employees accountable for white collar crimes that go on at the firms where they work.”
This comes one day after reports that Holder is calling for increased cash rewards under the Financial Institutions Reform, Recovery and Enforcement Act, or FIRREA, for whistleblowers who provide evidence of wrongdoing on Wall Street.
“The buck needs to stop somewhere where corporate misconduct is concerned. We ought to consider this further and modify our laws where appropriate,” said Holder in a speech at the New York University’s law school.
Holder specifically referenced Sarbanes-Oxley’s requirement to “designate a company executive to sign its accounting firms and take responsibility for misrepresentations as a way of establishing accountability for individuals tied to wrongdoing.”
Read the full report here.