• Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
The Truth at Any Cost.
Qui Tam, Compliance and Anti-Corruption News.
SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
Whistleblower Network News
  • Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
No Result
View All Result
Home Corporate SEC

Senators Introduce Bipartisan Bill to Strengthen SEC Whistleblower Program

Geoff SchwellerbyGeoff Schweller
March 16, 2023
in SEC
Reading Time: 3 mins read
SEC Whistleblower
Share on TwitterShare on FacebookShare on LinkedInEmail

On March 15, Senators Chuck Grassley (R-IA) and Elizabeth Warren (D-MA) introduced the Securities and Exchange Commission (SEC) Whistleblower Reform Act of 2023 in order to further strengthen the highly successful SEC Whistleblower Program. The bill bolsters the Dodd-Frank Act’s anti-retaliation protections and ensures that the agency processes award claims in a more timely manner.

“This is an important bill that needs to be quickly passed,” said leading whistleblower attorney Stephen M. Kohn of Kohn, Kohn & Colapinto.

“The bill fixes the three big problems with Dodd-Frank: It covers internal whistleblowers who report to corporate compliance, it addresses the long delays that have bogged down the program, and it makes sure that nondisclosure agreements do not silence whistleblowers,” continued Kohn, who also serves as the Chairman of the Board of the National Whistleblower Center.

Support Whistleblower Network News

The bill aims to ensure the prompt payment of whistleblower awards by setting mandatory deadlines for the SEC to issue award determinations. In general, the bill would require that the SEC issues a determination no later than “the date that is 1 year after the deadline established by the Commission, by rule, for the whistleblower to file the award claim” or “the date that is 1 year after the final resolution of all litigation, including any appeals, concerning the covered action or related action.”

The bill also extends anti-retaliation protections to whistleblowers who report misconduct internally to supervisors. Currently, as ruled by the Supreme Court in Digital Realty Trust, Inc. v. Somers, protections only apply when a whistleblower contacts the SEC or other select officials. The bill also clarifies that whistleblowers cannot waive their rights through a predispute arbitration agreement.

Established by the Dodd-Frank Act in 2010, the SEC Whistleblower Program has become the gold standard of whistleblower award programs. The program has allowed the agency to collect over $6.3 billion from fraudsters and return over $1.5 billion to harmed investors. Overall, the SEC has awarded over $1.3 billion to over 300 whistleblowers.

“Whistleblowers bring sunshine to the corners of our government and the private sector where waste, fraud and abuse are taking place in the shadows,” said Senator Grassley. “The American people have whistleblowers to thank for recovering billions of valuable taxpayer dollars. I’m proud to once again lead this push for greater government accountability by protecting the whistleblower process at the SEC.”

The SEC Whistleblower Reform Act of 2023 is cosponsored by Senators Catherine Cortez-Masto (D-NV), Susan Collins (R-ME) and Raphael Warnock (D-GA).

Further Reading:

Grassley, Warren Reintroduce Bill to Strengthen SEC Whistleblower Program

More SEC Whistleblower News

Tags: Breaking NewsLegislationSECSen. Charles Grassley
Previous Post

Ontario Securities Commission Highlights Success of Whistleblower Award Program

Next Post

“We want to dispel the stigma.” — Discussing the 1st Whistleblowing Awareness Week with Georgina Halford-Hall and Stephen Kohn

Geoff Schweller

Geoff Schweller

Geoff Schweller is the Assistant News Editor for Whistleblower Network News. He coordinates news coverage, and also writes about breaking whistleblower news, SEC whistleblowers, IRS whistleblowers, CFTC whistleblowers, and federal employee whistleblowers. Geoff graduated from Hamilton College with a degree in Sociology and minors in French & Francophone Studies and Cinema & New Media Studies.

Next Post
Flyer with information about the Whistleblowing Awareness Week by WhistleblowersUK

“We want to dispel the stigma.” — Discussing the 1st Whistleblowing Awareness Week with Georgina Halford-Hall and Stephen Kohn

Receive Daily Alerts

Subscribe to receive daily breaking news and legislative developments sent to your inbox.

  • This field is for validation purposes and should be left unchanged.

Most Popular

Tell President Biden to “Finish the Job” for Whistleblowers

Change the Culture, Make National Whistleblower Day Permanent

Whistleblower Raised Concerns of Rodents, Spiders in Kitchen of Childcare Facility, Then Fired; OSHA Rules They Were Retaliated Against

U.S. and UK Advocates Come Together for Whistleblowing Awareness Week

“We want to dispel the stigma.” — Discussing the 1st Whistleblowing Awareness Week with Georgina Halford-Hall and Stephen Kohn

Senators Introduce Bipartisan Bill to Strengthen SEC Whistleblower Program

Whistleblower Poll

Whistleblower Poll
Whistleblower Poll

Exclusive Marist Poll: Overwhelming Public Support Among Likely Voters For Increased Whistleblower Protections

byGeoff Schweller
October 6, 2020

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

STAY INFORMED.
Subscribe to receive breaking whistleblower updates.

  • This field is for validation purposes and should be left unchanged.

About Us

  • About
  • Contact Us
  • Donate
  • Careers

Subscribe

  • Daily Mail
  • Follow us on Twitter
  • YouTube Channel

Contribute

  • Letter to the Editor
  • Submission Guidelines
  • Reprint Guidelines

Your Experience

  • Accessibility Statement
  • Privacy Policy
  • Terms of Use

Help

  • The Whistleblowers Handbook
  • Frequently Asked Questions
  • Advertise
Whistleblower Network News

Whistleblower Network News is an independent online newspaper providing our readers with up-to-date information on whistleblowing. Our goal is to be the best source of information on important qui tam, anti-corruption, compliance, and whistleblower law developments. 

Submit an Article

Copyright © 2021, Whistleblower Network News. All Rights Reserved.

This Newspaper/Web Site is made available by the publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this website, you understand that there is no attorney-client relationship between you and the Newspaper/Web Site publisher. The Newspaper/Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
No Result
View All Result
  • Exclusives
  • Government
    • False Claims-Qui Tam
    • Federal Employees
    • Intelligence
  • Corporate
    • CFTC & Commodities
    • Dodd-Frank
    • IRS & Tax
    • SEC & Securities
  • Features
  • Legislation
  • International
    • Foreign Corruption
  • Rewards
  • Whistleblower of the Week
  • Environment & Climate
  • Opinion
  • Editorial
  • Employment
    • Sarbanes-Oxley Whistleblowers
    • Retaliation
    • OSHA
  • Media
    • Podcasts
    • Videos
    • Webinars
    • National Whistleblower Day
  • Whistleblower Poll
  • Whistleblower Resources
    • Frequently Asked Questions
    • Resources for Locating An Attorney
    • The New Whistleblowers Handbook
  • National Whistleblower Day ’23

Copyright © 2020, Whistleblower Network News. All Rights Reserved.

Become a Whistleblower Network News Subscriber

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Subscribe to WNN

Retrieve your password

Please enter your username or email address to reset your password.

Subscribe to WNN

Add New Playlist

Go to mobile version