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Whistleblower Protection in Public Company Accounting Oversight

This act establishes a whistleblower program for individuals reporting misconduct in public company accounting. Whistleblowers can receive financial awards for providing original information leading to significant monetary penalties. It also protects them from retaliation, such as dismissal or discrimination, for disclosing such information.
Key points
Financial Awards for Whistleblowers: Individuals providing valuable information on violations can receive 10% to 30% of collected monetary sanctions if these sanctions exceed $250,000.
Protection Against Retaliation: Employers are prohibited from discharging, demoting, or otherwise discriminating against whistleblowers for reporting information or assisting in investigations.
Confidentiality of Identity: A whistleblower's identity is protected and only disclosed when necessary, such as before an award payment or in a public proceeding.
Right to Appeal: Decisions regarding awards can be appealed to the Securities and Exchange Commission.
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Additional Information
Print number: 117_HR_7245
Sponsor: Rep. Garcia, Sylvia R. [D-TX-29]
Process start date: 2022-03-28
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PCAOB Whistleblower Protection Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7245.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-28.

What are the main provisions?

Key points include:

  • Financial Awards for Whistleblowers: Individuals providing valuable information on violations can receive 10% to 30% of collected monetary sanctions if these sanctions exceed $250,000.
  • Protection Against Retaliation: Employers are prohibited from discharging, demoting, or otherwise discriminating against whistleblowers for reporting information or assisting in investigations.
  • Confidentiality of Identity: A whistleblower's identity is protected and only disclosed when necessary, such as before an award payment or in a public proceeding.
  • Right to Appeal: Decisions regarding awards can be appealed to the Securities and Exchange Commission.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Garcia, Sylvia R. [D-TX-29].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Courts and Law Economy