Political Quotes

“I thank Representative Green, the chairman of the Subcommittee on Oversight and Investigations, for working with the gentleman from Michigan (Mr. Huizenga) to craft this timely piece of legislation to ensure that all whistleblowers reporting suspected securities law violations are protected from retaliation by their employers. In the Dodd-Frank Act, Congress provided the Securities and Exchange Commission the authority to reward whistleblowers who voluntarily provide the SEC with original information that leads to a successful enforcement action with monetary sanctions exceeding $1 million. {time} 1700 Realizing that these whistleblowers may be deterred by their employers, Congress also required the SEC to issue regulations to protect them from retaliatory efforts, such as firing or demotion; but in 2018, the Supreme Court held that whistleblowers who report alleged misconduct internally but not to the SEC are not protected by the antiretaliation provisions of Dodd-Frank. This is not what Congress intended. Indeed, requiring whistleblowers to race to the SEC in order to be protected discourages them from reporting their suspicions to their superiors. The U.S.…”