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H.R. 2515: Whistleblower Protection Reform Act of 2019

The text of the bill below is as of Jul 10, 2019 (Referred to Senate Committee).


IIB

116th CONGRESS

1st Session

H. R. 2515

IN THE SENATE OF THE UNITED STATES

July 10, 2019

Received; read twice and referred to the Committee on Banking, Housing, and Urban Affairs

AN ACT

To amend the Securities and Exchange Act of 1934 to amend the definition of whistleblower, to extend the anti-retaliation protections provided to whistleblowers, and for other purposes.

1.

Short title

This Act may be cited as the Whistleblower Protection Reform Act of 2019.

2.

Whistleblower

Section 21F of the Securities Exchange Act of 1934 (15 U.S.C. 78u–6) is amended—

(1)

in subsection (a)(6)—

(A)

by striking (6) Whistleblower.—The term and inserting the following:

(6)

Whistleblower

(A)

In general

The term

; and

(B)

by adding the following new subparagraph at the end:

(B)

Special rule

Solely for the purposes of subsection (h)(1), the term whistleblower shall also include any individual who takes an action described in subsection (h)(1)(A), or two or more individuals acting jointly who take an action described in subsection (h)(1)(A).

; and

(2)

in subsection (h)(1)(A)—

(A)

in clause (ii), by striking or at the end;

(B)

in clause (iii), by striking the period at the end and inserting ; or; and

(C)

by adding at the end the following:

(iv)

in providing information regarding any conduct that the whistleblower reasonably believes constitutes a violation of any law, rule, or regulation subject to the jurisdiction of the Commission to—

(I)

a person with supervisory authority over the whistleblower at the whistleblower’s employer, where such employer is an entity registered with or required to be registered with the Commission, a self-regulatory organization, or a State securities commission or office performing like functions; or

(II)

such other person working for the employer described under subclause (I) who has the authority to investigate, discover, or terminate misconduct.

.

Passed the House of Representatives July 9, 2019.

Cheryl L. Johnson,

Clerk