SEC Whistleblower Reform Act of 2022

Senate Bill 3977 - SEC Whistleblower Reform Act of 2022: Overview, Status, and Impact

Hozzl · 2022-12-29T22:48:21Z

Explore the details of Senate Bill 3977 SEC Whistleblower Reform Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/29/2022, 10:48 PM

Congressional Summary of S 3977

SEC Whistleblower Reform Act of 2022

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.

The prohibition of retaliation against whistleblowers is expanded to include individuals who provide information regarding potential violations to supervisors or other employees in positions of authority.

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.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill S 3977

Bill S 3977 is currently in the status of Bill Introduced since March 31, 2022. Bill S 3977 was introduced during Congress 117 and was introduced to the Senate on March 31, 2022. Bill S 3977's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of March 31, 2022