NWC Opposes Corporate Lobby Attempt to Weaken Whistleblower Provisions in Dodd-Frank

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NWC Opposes Corporate Lobby Attempt to Weaken Whistleblower Provisions in Dodd-Frank

November 3rd SEC public meeting will address whistleblower provisions

Washington, D.C. November 2, 2010. Yesterday, the National Whistleblowers Center submitted comments to the Securities and Exchange Committee opposing recommendations by the “Corporate Lobby” that threaten the integrity the Dodd-Frank Act’s whistleblower provisions.

The SEC will consider whether to propose rules and forms to implement Section 21F of the Securities Exchange Act of 1934 entitled “Securities Whistleblower Incentives and Protection” at an open meeting tomorrow at 10:00 a.m.

Stephen M. Kohn, Executive Director of the National Whistleblowers Center said, “The Dodd-Frank Act clearly states that the rules implemented by the SEC must be ‘user-friendly’. We will be paying close attention to tomorrow’s SEC meeting to see if the SEC’s promise to protect whistleblowers is more than simple lip service.”

Links:

NWC Letter to SEC opposing corporate lobby position

Baker Donelson letter representing corporate lobby position

Arent Fox letter representing corporate lobby position

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