Sec. 3. Prompt payment of awards
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/bill/116/hr/4816/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 23(b) of the Commodity Exchange Act ( 7 U.S.C. 26 ) is amended by adding at the end the following: Except as provided in subparagraph (B), and subject to clause (ii), the Commission shall make an initial disposition with respect to a claim submitted by a whistleblower for an award under this section (referred to in this paragraph as an award claim ) not later than 1 year after the deadline established by the Commission, by rule, for the whistleblower to file the award claim. If a covered judicial or administrative action involves 1 or more related actions, the requirement under clause
(i)shall apply with respect to the latest deadline with respect to the actions. If the Director of the Division of Enforcement of the Commission (referred to in this paragraph as the Director ), or the designee of the Director, determines that an award claim is sufficiently complex or involves more than 1 whistleblower, or if other good cause exists such that the Commission cannot reasonably satisfy the requirement under subparagraph (A), the Director or the designee, as applicable, after providing notice to the Chairman of the Commission (referred to in this paragraph as the Chairman ), may extend the deadline with respect to the satisfaction of that subparagraph by not more than 180 days. If, after providing an extension under clause (i), the Director, or the designee of the Director, determines that the Commission cannot reasonably satisfy the requirement under subparagraph
(A)with respect to an award claim, as extended under that clause, the Director or the designee, as applicable, after providing notice to the Chairman, may extend the period in which the Commission may satisfy subparagraph
(A)by 1 additional 180-day period. If the Director, or the designee of the Director, exercises authority under clause
(i)or (ii), the Director or the designee, as applicable, shall submit to the whistleblower who filed the award claim that is subject to that action by the Director or the designee a written notification of that action by the Director or the designee. This paragraph shall apply only to an award claim that is timely submitted under a deadline established by the Commission after the date of enactment of this paragraph. . The Commodity Futures Trading Commission may issue any rules that are necessary to carry out paragraph
(3)of section 23(b) of the Commodity Exchange Act ( 7 U.S.C. 26(b) ) (as added by paragraph (1)).
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Sec. 3
Prompt payment of awards
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