S. 811 · 118th Congress
SEC Whistleblower Reform Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor4 cosponsors · 3 D, 1 R
4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill expands and revises whistleblower protections applicable to individuals who provide information to the Securities and Exchange Commission (SEC) relating to a violation of securities laws.
What it does: CRS summary · Introduced in Senate · Mar 15, 2023
SEC Whistleblower Reform Act of 2023
This bill expands and revises whistleblower protections applicable to individuals who provide information to the Securities and Exchange Commission (SEC) relating to a violation of securities laws.
Under current law, an employer is prohibited from retaliating against these whistleblowers. Under the bill, this prohibition is expanded to include (1) individuals who provide information regarding potential violations to supervisors or other employees in positions of authority; and (2) information relating to violations subject to the jurisdiction of the Public Company Accounting Oversight Board, the Municipal Securities Rulemaking Board, or a self-regulatory organization.
Additionally, the bill establishes the right to a jury trial for a person accused of violating whistleblower protection laws.
The bill also requires the SEC to make an initial disposition of a whistleblower award claim within the later of (1) one year of the deadline to submit such a claim, or (2) one year after the final resolution of any litigation in the matter.
Finally, the bill deems as unenforceable a predispute arbitration agreement regarding a whistleblower action.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SEC Whistleblower Reform Act of 2023
Latest action (Mar 15, 2023): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Mar 15, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.