August 2007: At the end of June, the SEC terminated the employment of a twenty-year attorney in the Division of Corporation Finance. According to the Decision on Proposed Removal, the primary basis for this firing was the allegation that this veteran SEC employee failed to complete all of her examinations by their assigned deadlines, despite the fact that management conceded that the quality of the employee’s work was not at issue.

NTEU will fight this case vigorously. The union has taken the case to arbitration, an arbitrator has been assigned and the matter will be scheduled for a two-day hearing soon.

“The union feels strongly that this firing was not justified,” said Michael Piacsek, the NTEU attorney who is handling the matter. “The union’s investigation to date indicates that this employee was a strong performer in the Division of Corporation Finance. Not only was the quality of her work product never at issue, as management conceded, but it appears that she was reviewing more registration statements, and conducting more full reviews, than many others in Corp Fin.”

Union officials are receiving inquiries from other employees in Corp Fin who have concerns about what such a severe action by Corp Fin management may mean for other employees in the division. “A case like this, involving the termination of an employee who has served the agency admirably for more than two decades, underscores how important it is for Corp Fin employees to carefully monitor the communications that they receive from management regarding their performance,” Piacsek said. “Employees should take it seriously when they perceive conflicts developing with their managers, or when they receive criticism for their performance and their managers appear to be building a record. They should not hesitate to consult with a Chapter 293 steward when these warning signs appear, so that they can receive advice regarding how best to protect themselves from potentially draconian action.”