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Sarbanes-Oxley Act

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Ex-strategist can sue UBS as whistleblower: U.S. judge

UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research reports.U.S. District Judge Jesse Furman in Manhattan found that Trevor Murray, who was fired in February 2012, could move forward with his case. Murray alleges that after he complained to superiors, the Swiss bank retaliated against him in violation of the Dodd-Frank Act.The ruling was one of a handful to date to address the scope of the whistleblower provisions of Dodd-Frank, the 2010 law enacted in response to the U.S. financial crisis.UBS argued the Dodd-Frank whistleblower provisions did not apply to Murray as he only complained to people at UBS and not the U.S. Securities and Exchange Commission.But Furman cited rules adopted by the SEC in 2011 interpreting the Dodd-Frank law as extending the law's anti-retaliation provisions to protect individuals whose disclosures were made under the earlier ...

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