On October 5, Representative Al Green (D-TX) introduced the Whistleblower Protection Reform Act of 2021. The bill strengthens the SEC Whistleblower Program through a number of different reforms. On October 21, a collection of whistleblower advocacy groups sent a letter to Representative Green expressing their support for the legislation.
The letter, which was signed by 19 advocacy groups, states that the bill would “strengthen protections for SEC whistleblowers and fortify the SEC’s whistleblower reward program.” Signees of the letter are Accountability Lab, Acorn 8, American-Arab Anti-Discrimination Committee, Defending Rights and Dissent, Essential Information, Government Accountability Project, Government Information Watch, National Whistleblower Center, Open The Government, Project on Government Oversight, Public Citizen, Public Employees for Environmental Responsibility, Shadow World Investigations, Taxpayers Against Fraud, Taxpayers Protection Alliance, Transparency International U.S. Office, Union of Concerned Scientists, Whistleblowers of America, and Zuckerman Law Firm, LLC.
Major reforms in the bill include provisions to strengthen anti-retaliation protections for corporate whistleblowers by closing a number of loopholes that currently exist in the Dodd-Frank Act (DFA). Most notably, the bill extends protections to whistleblowers who make their disclosures internally and not the SEC. In 2018, the Supreme Court held in Digital Realty Trust, Inc. v. Somers that,...
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