|Stop Wall Street Lobbyists from Destroying Whistleblower Protections!|
As reported in today's Washington Post, historic corporate whistleblower protections passed this summer are in danger of being destroyed by aggressive Wall Street lobbying. Your help is urgently needed to ensure that this does not happen.
The Dodd-Frank Act was designed to hold Wall Street accountable and prevent another financial meltdown. A centerpiece of that reform was strong whistleblower protections. The Securities Exchange Commission (SEC) and Commodities Commission are writing detailed rules implementing the law and the Wall Street lobbyists are working overtime to kill the law through the back door. They are winning! The Proposed Rules issued by the SEC are a major setback for all whistleblowers. Public comment on these rules closes on December 17, 2010. Your voices are needed now!
The SEC admits that their proposed rules would “limit the pool of eligible whistleblowers,” “reduce the number of possibly useful informants,” “discourage some whistleblowers,” cause “persons not to come forward,” and result in “forgone opportunities for effective enforcement action.” These are not the rules that Congress intended.
The rules at issue affect every American from the price you pay at the gas pump (commodities) to the integrity of your retirement accounts (securities). We cannot allow this law to be undermined by a corporate-controlled the rulemaking process. Now is the time to tell the regulators that they must get it right before the final rules are published. We cannot allow the lobbyist voices to drown out the public interest.
The public comment period will close in just 25 days!!! Please PASS THIS ALERT ON to everyone you know who cares about honesty on Wall Street and protecting America from another financial meltdown fueled by greed.
Every American should demand that Securities and Commodity commissions implement rules that will protect, encourage, and reward whistleblowers.