Enhanced Whistleblower Protection: New Rules and Support
This act strengthens protections for individuals reporting misconduct in companies, expanding the definition of a whistleblower and increasing anti-retaliation safeguards. Citizens who choose to disclose important information can expect broader legal and financial support, as well as faster processing of their cases. The changes aim to encourage reporting of fraud and abuses, potentially leading to greater transparency and fairness in the market.
Key points
Expanded Whistleblower Definition: Now includes individuals reporting misconduct as part of their job duties, granting them the same protections.
Increased Anti-Retaliation Protections: Employers can no longer retaliate, such as by firing or demoting, for reporting legal violations. Whistleblowers are entitled to a jury trial.
Faster Claim Processing: The Securities and Exchange Commission (SEC) must now process whistleblower award claims within one year, with extensions possible for complex cases.
Larger Financial Awards: Whistleblower awards can now include monies recovered by a bankruptcy trustee, increasing potential benefits.
Waiver of Rights Prohibited: Companies can no longer require employees to waive their right to report misconduct or to arbitration in whistleblower disputes.
Expired
Additional Information
Print number: 117_HR_5485
Sponsor: Rep. Green, Al [D-TX-9]
Process start date: 2021-10-05