I got this from POGO. There is a new bill which wants to weaken whistleblower protections.
Rep. Michael Grimm
It’s the old bait and switch again. Name a bill the exact opposite of what it actually does to try and sneak it through. This time it’s the Whistleblower Improvement Act (H.R. 2483), introduced by Rep. Michael Grimm (R-NY), that is designed to dismantle current financial sector whistleblower rights and protections.
We’ve been fighting to keep whistleblower protections strong, but now Grimm’s bill is receiving support from Wall Street and a new “shoe-leather lobbying campaign” from the U.S. Chamber of Commerce.
That is why we need your help today. Tell your Representative to oppose Rep. Grimm’s attempt to gut the whistleblower program for Wall Street.
This bill would severely undermine the fledgling whistleblower programs at major financial regulatory institutions such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Industry whistleblowers reporting wrongdoing to the SEC and CFTC are one of the best ways to catch the future Madoffs and Enrons.
Under the proposed bill, whistleblowers would be required to report problems internally before going to outside regulators—this would be like requiring police officers to tip off suspects before they begin an investigation. The bill would also deny many would-be whistleblowers the right to a financial reward for reporting wrongdoing, a key incentive to get insiders to come forward.
Wrapping these destructive policies in the guise of protecting whistleblowers is a cruel joke to all the whistleblowers who risked their careers and livelihoods to report wrongdoing and save investors billions of dollars.
Don’t let Rep. Grimm and big-moneyed lobbyists overpower the whistleblower community. Make your voice heard so lawbreaking companies don’t escape accountability.
This bill would push back important and hard-won whistleblower protections and make it easier for institutions to defraud investors, taxpayers, and the government. POGO and more than 25 other organizations have come together to stand up for whistleblowers. Join us today.