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Dodd-Frank Wall Street Reform & Consumer Protection Act

Dodd-Frank Wall Street Reform and Consumer Protection Act: Conference Report

Section 748

23(A) - qui tam for whistleblowers under the Commodities Exchange Act
23 sub (H) - anti-retaliation provision, which permits whistleblowers to go to federal court if they are retaliated against for filing fraud claims under the Commodities Exchange Act

Section 922
21F(a) qui tam for securities fraud: new qui tam rewards and incentives for whistleblowers who blow the whistle on securities violations
21F sub (H)(1) anti-retaliation provision for employees who file qui tam claims under securities law
(H)(1)(A)(iii) anti-retaliation for employees who make disclosures under SOX, any violation of SEC art or who make protected disclosures under obstruction of justice act
Claims filed in federal court - employees entitled to double back pay
(B) statistical ratings organizations (Moody's & Standard & Poor's) now protected under SOX anti-retaliation provisions (C) SOX whistleblower protection act enhanced and amended to increase the statute of limitations, guarantee jury trials, and prohibit mandatory arbitration agreements

Section 923 - Conforming amendments

Section 924 - SEC regulations to establish special whistleblower office and impose regulations enforcing whistleblower rules. 

Section 929A - SOX anti-retaliation law is clarified to ensure subsidiaries of publicly traded companies are fully protected under the whistleblower protection law

Section 966 - Federal employees are losers under the Act and regulators obtain no protections except a glorified "suggestion box"

Section 1057 - New whistleblower protection for employees who make disclosures to the newly created consumer protection board

Section 1079B(c) - Amends the False Claims Act anti-retaliation law to provide for universal national 3 year statute of limitations to file wrongful discharge claims under the False Claims Act.

Tags: Changing Corporate Culture, Legislative Initiatives