Sec. 121. Whistleblower protections for internal disclosures
840 words·~4 min read·
/bill/116/hr/4895/ih/section-121A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 23 of the Commodity Exchange Act ( 7 U.S.C. 26 ) is amended— in subsection (a)(7)— by striking The term and inserting the following: The term ; and by adding at the end the following: Solely for the purposes of subsection (h)(1), the term whistleblower includes any individual who takes, or 2 or more individuals acting jointly who take, an action described in subsection (h)(1)(A). ; and in subsection (h)(1)(A)— in clause (i), by striking or at the end; in clause (ii), by striking the period at the end and inserting ; or ; and by adding at the end the following: 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— a person with supervisory authority over the whistleblower at the employer of the whistleblower, if that 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 another individual working for the employer described in subclause
(I)who the whistleblower reasonably believes has the authority— to investigate, discover, or terminate the misconduct; or to take any other action to address the misconduct. . 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 one 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)). Section 23(g)(2) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(2) ) is amended— in subparagraph (A), by striking and at the end; in subparagraph (B), by striking the period at the end and inserting ; and ; and by adding at the end the following: the funding of initiatives designed to educate stakeholders regarding the incentives and protections available under this section, including the benefits of those incentives and protections. . Section 23(g)(3)(A) of the Commodity Exchange Act ( 7 U.S.C. 26(g)(3)(A) ) is amended by striking $100,000,000 and inserting $150,000,000 . Section 23(h)(2)(C) of the Commodity Exchange Act ( 7 U.S.C. 26(h)(2)(C) ) is amended— in clause (i)— in subclause (II), by striking jurisdiction; and inserting the following: “jurisdiction, including— the Federal Trade Commission; the Internal Revenue Service; and the Department of State; ; and in subclause (VI), by inserting or other foreign law enforcement authority before the period at the end; and in clause (ii)— by striking Each and inserting the following: Each ; in subclause
(I)(as so designated), by inserting subclauses
(I)through
(V)of before clause
(i); and by adding at the end the following: An entity described in subclause
(VI)of clause
(i)shall maintain information described in that clause in accordance with such assurances of confidentiality as the Commission determines appropriate. .
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 121
Whistleblower protections for internal disclosures
Cites 1Cited by 0 across 0 sources