|You might favor this bill if:
► You believe that whistleblowers should be given legal protections if they report information directly to the Securities and Exchange Commission (SEC). The definition of “whistleblower,” with regards to securities law violations, should be expanded upon as there are not enough protections for whistleblowers in the U.S. The current law set in place are archaic and needs reform.
|You might oppose this bill if:
► You believe that no special protections should be afforded to whistleblowers. Whistleblowing can be dangerous for the integrity of American intelligence and thus should not be entertained as something to be protected by U.S. federal law. The current definition of “whistleblower,” with regards to securities law violations, should not and does not need to be expanded upon.
The Whistleblower Protection Reform Act would expand on the definition of a whistleblower with regards to securities law violations.
In particular, the act extends protections from retaliation to individuals or groups who assist in a Securities and Exchange Commission (SEC) investigation of these violations or who make legitimate disclosures that are required or protected under any law subject to the SEC's jurisdiction.
The SEC was created by Congress in 1934 as the first federal regulator of the securities markets. The SEC promotes full public disclosure, protects investors against fraudulent and manipulative practices in the market, and monitors corporate takeover actions in the United States.
These protections would apply only specifically to individuals who report information directly to the SEC.