Bill 119 s 1149, also known as the Whistleblower Protection Act, aims to amend the Securities Exchange Act of 1934 in order to provide additional protections for individuals who report violations of securities laws. The bill seeks to enhance anti-retaliation measures for whistleblowers, ensuring that they are not punished or discriminated against for coming forward with information about potential wrongdoing.
The Whistleblower Protection Act is designed to encourage individuals to report securities violations by providing them with legal safeguards against retaliation from their employers. This includes protections such as reinstatement, back pay, and compensation for any damages suffered as a result of retaliation.
In addition to enhancing anti-retaliation protections, the bill also includes provisions for other purposes related to whistleblower protections. These may include measures to improve the reporting process for whistleblowers, increase transparency in investigations of securities violations, and strengthen enforcement mechanisms to hold wrongdoers accountable.
Overall, Bill 119 s 1149 represents a significant step towards bolstering whistleblower protections in the securities industry and promoting a culture of accountability and transparency. By providing whistleblowers with the necessary safeguards to report violations without fear of reprisal, the bill aims to strengthen the integrity of the financial markets and protect investors from fraud and misconduct.