118th Congress Finance and Financial Sector
S. 811: SEC Whistleblower Reform Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
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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 Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Susan Collins R-MEOriginal
- Catherine Cortez Masto D-NVOriginal
- Raphael Warnock D-GAOriginal
- Elizabeth Warren D-MAOriginal
Who scored on this bill
- 1Charles Grassley SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by Charles Grassley.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.