WASHINGTON – Sens. Chuck Grassley (R-Iowa) and Elizabeth Warren (D-Mass.) have introduced legislation to strengthen whistleblower protections at the U.S. Securities and Exchange Commission (SEC). Their bipartisan proposal, the SEC Whistleblower Reform Act of 2022, would ensure claims are processed in a timely manner, and it would implement new measures to prevent retaliation against whistleblowers.
“SEC whistleblowers are critical for rooting out fraud and protecting investors, and those who often put their career at risk to report wrongdoing should be shielded from retaliation. While I’m pleased that the program has been an overwhelming success, we can still do more to strengthen protections, speed up claim processing and close other loopholes,” Grassley said.
“The American people must have confidence that they can report violations of securities laws without retaliation from their employer. That is why I am glad to partner with Senator Grassley to introduce the SEC Whistleblower Reform Act of 2022 to expand and strengthen whistleblower protections,” said Warren.
Grassley and Warren’s bipartisan proposal has been endorsed by the National Whistleblower Center and the Whistleblower Network News.
"This law is urgently needed. Whistleblowers who have been fired often have to wait over four years for any compensation. This amendment closes that painful loophole," said Stephen Kohn, chairman of the National Whistleblower Center.
Specifically, the SEC Whistleblower Reform Act of...
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