# Whistleblower Protection Reform Act of 2021

This bill makes it easier for people who report financial crimes and securities violations to come forward and get protected from retaliation. It strengthens the rules around who counts as a whistleblower and what happens if companies punish them for speaking up.

The main changes involve expanding the financial rewards whistleblowers can receive. Currently, if a whistleblower's information leads to a company being fined or ordered to pay money back to investors, they get a percentage of what's recovered. This bill expands that to include money recovered from settlements with the Justice Department and money that bankruptcy trustees recover as a result of the whistleblower's original tip. It also makes sure whistleblowers can get awards even when multiple related cases are involved, so they don't lose out just because their information helped solve several connected problems.

The bill also strengthens job protection for people who report violations. It protects whistleblowers not just during their employment but also after they leave a job. It expands protection to include people who report violations to their supervisors or other company officials with authority to investigate misconduct, not just to the SEC directly. If a company retaliates against someone for reporting violations, the whistleblower can now take the company to court with a jury trial, and they only have to show that their protected conduct was "a contributing factor" in the retaliation—a lower bar than before. The bill also ensures whistleblowers can recover their legal fees, expert witness costs, and other expenses from litigation.

Finally, the bill prevents companies from forcing whistleblowers into secret arbitration agreements that would keep their cases private. It also requires the SEC to process whistleblower award claims within one year, with limited exceptions for complex cases, ensuring people don't wait years to find out if they'll be compensated for their information.

Whistleblower Protection Reform Act of 2021

Green, Al

Whistleblower Protection Reform Act of 2021 This bill expands and revises whistleblower protections applicable to individuals who provide information to the Securities and Exchange Commission (SEC) relating to a violation of securities laws. The prohibition of retaliation against whistleblowers is expanded to include individuals who provide information regarding potential violations to supervisors or other employees in positions of authority, including as part of their job duties. Additionally, the bill establishes the burden of proof regarding an unfavorable personnel action against a whistleblower, including evidence needed to prove that the whistleblower's conduct was a contributing factor in such an action. The bill also deems as unenforceable a predispute arbitration agreement regarding such an action and makes additional categories of sanctions eligible for distribution as part of whistleblower awards.