1. Short title
This Act may be cited as the “Whistleblower Protection Reform Act of 2019”.
Whistleblower Protection Reform Act of 2019
AN ACT
To amend the Securities and Exchange Act of 1934 to amend the definition of whistleblower, to extend the anti-retaliation protections provided to whistleblowers, and for other purposes.
2. Whistleblower
Section 21F of the Securities Exchange Act of 1934 (15 U.S.C. 78u–6) is amended—
in subsection (a)(6)—
by striking “(6) Whistleblower.—The term” and inserting the following:
“(6) Whistleblower
“(A) In general—The term”
by adding the following new subparagraph at the end:
“(B) Special rule—Solely for the purposes of subsection (h)(1), the term whistleblower shall also include any individual who takes an action described in subsection (h)(1)(A), or two or more individuals acting jointly who take an action described in subsection (h)(1)(A).”
in subsection (h)(1)(A)—
in clause (ii), by striking “or” at the end;
in clause (iii), by striking the period at the end and inserting “; or”; and
by adding at the end the following:
“(iv) in providing information regarding any conduct that the whistleblower reasonably believes constitutes a violation of any law, rule, or regulation subject to the jurisdiction of the Commission to—
“(I) a person with supervisory authority over the whistleblower at the whistleblower’s employer, where such employer is an entity registered with or required to be registered with the Commission, a self-regulatory organization, or a State securities commission or office performing like functions; or
“(II) such other person working for the employer described under subclause (I) who has the authority to investigate, discover, or terminate misconduct.”