Lift Our Voice Urges Securities and Exchange Commission to Act to Combat Workplace Abuse and Harassment
For Immediate Release: December 15th, 2022
Contact: JON CARVALHO
Lift Our Voice Urges Securities and Exchange Commission to Act to Combat Workplace Abuse and Harassment
SEC could use its authority to require publicly traded companies to disclose key information pertaining to workplace harassment
Washington, DC – The advocacy organization Lift Our Voices has urged Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), to use the Commission’s rulemaking authority to require publicly traded companies to disclose the number and amounts of settlements, judgements, and awards pertaining to workplace harassment, sexual harassment, and assault on their annual filings.
Lift Our Voices is a leading civil rights organization that works to end silencing mechanisms in the workplace. The letter was co-signed by 10 other advocacy groups from across the nation.
“Greater corporate transparency about workplace harassment and assault settlements would go a long way in eliminating this type of toxic behavior,” said Gretchen Carlson, co-founder of Lift Our Voices. “Shareholders deserve to know how much of their money is being spent on these issues.”
By 2024, more than 80% of all American workers will be bound by forced arbitration, a secretive process that prevents the public disclosure of harassment, including retaliation along with racial, gender and age discrimination. Similarly, the pervasive use of non-disclosure agreements (NDAs) often bars workers from coming forward about toxicity they may have experienced. These silencing mechanisms exist to prevent corporate accountability and keep shareholders and consumers in the dark about toxic behavior.
“Too many organizations cover up toxic behavior at work by silencing survivors, which only perpetuates the cycle of abuse, driving women out of the workplace while protecting those who engage in misconduct,” said Julie Roginsky, co-founder of Lift Our Voices. “More transparency from publicly traded companies about the use of these silencing mechanisms is a much-needed tool for combatting workplace toxicity.”
Rep. Lois Frankel (D-FL), joined by 61 other members of Congress, also sent a letter to Chairman Gensler urging him to take action. It reads, in part:
“The SEC’s stated mission is, in part, to make sure that the public and shareholders have the timely, accurate, and complete information they need to make confident and informed decisions about when or where to invest. By informing shareholders and the public about expenses related to harassment and assault disputes, the SEC will be able to improve accountability for these companies and incentivize them to prevent workplace harassment and assault.”
ABOUT LOV
Lift Our Voices was launched in December 2019 to create positive, systemic change in American workplaces through the eradication of nondisclosure agreements for toxic work issues and mandatory arbitration clauses. Created and launched by Gretchen Carlson and Julie Roginsky, and Diana Falzone, LOV’s mission is to protect American workers by giving those in toxic work environments the freedom to speak freely about their workplace experiences and free them from the laws and business practices that prevent employees from publicly discussing toxic workplace conditions.
For more information on Lift Our Voices, visit https://www.liftourvoices.org/ and visit their Facebook and Twitter pages.