Investment Adviser Week Reports on Sarbanes-Oxley Whistleblower Claim

Investment Advisor Week writes about Daniel Fisher’s lawsuit against Wells Fargo to compel the company to comply with the reinstatement order issued by DOL’s Occupational Safety and Health Administration (“OSHA”).  According to the article, a Wells Fargo Compliance Manger investigated Fisher’s allegations and concluded that a licensed banker at Wells Fargo was engaging in trading away and gaming.  Despite the Compliance Manager’s investigative findings and his promise to Fisher that Fisher “would not be chastised for bringing up his concerns,” the company moved Fisher to a new location and cut his pay.  Finding that Wells Fargo had retaliated against Fisher for reporting the company’s unlawful activities, OSHA ordered Wells Fargo to reinstate Fisher.