Stronger SEC Whistleblower Protection: Internal Reports, Jury Trials, and Faster Awards.
This Act significantly strengthens protections for employees reporting financial misconduct by extending anti-retaliation safeguards to those who first report internally to supervisors or compliance departments. It grants whistleblowers the right to a jury trial in retaliation cases and invalidates pre-dispute arbitration agreements that waive these rights. Furthermore, the law mandates the SEC to process whistleblower award claims more quickly.
Key points
Anti-retaliation protection is extended to cover disclosures made internally within the company (to a supervisor or authorized investigator), not just reports filed directly with the SEC.
Whistleblowers facing retaliation gain the right to a jury trial and cannot be forced into arbitration by pre-dispute employment agreements.
The SEC is required to issue an initial decision on financial award claims generally within one year after the related litigation is finally resolved.
Status:
Expired
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