May, 19 2011, 09:57am EDT
Final Whistleblower Provisions in Dodd-Frank Act to be Announced on May 25
Today, the Securities and Exchange Commission (SEC) announced the Commissioners will meet on May 25th at 9:30 a.m. EST to vote on its final rules for the whistleblower provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules will directly relate to the new "bounty" provisions in the Securities Exchange Act, which requires the SEC to pay whistleblower rewards.
WASHINGTON
Today, the Securities and Exchange Commission (SEC) announced the Commissioners will meet on May 25th at 9:30 a.m. EST to vote on its final rules for the whistleblower provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules will directly relate to the new "bounty" provisions in the Securities Exchange Act, which requires the SEC to pay whistleblower rewards.
The whistleblower rules have been among the most controversial in the Dodd-Frank Act. The Chamber of Commerce and other corporate lobbyists aggressively campaigned to water down whistleblower rights.
The National Whistleblowers Center (NWC) has also been heavily involved with the rulemaking process, trying to ensure that the final rules adequately protect whistleblowers. The NWC Executive Director and legal staff have met personally with each Commissioner in order to explain the detailed public comments and to rebut arguments raised by the Chamber.
Stephen Kohn, NWC Executive Director, issued the following statement:
We will carefully review the Commission's final rules. We hope that whistleblowers will be fully protected and that we will not have to file a judicial challenge to the rules under the Administrative Procedure Act.
The whistleblower provisions will have a major impact on the enforcement and interpretation of the Securities Exchange Act and the Foreign Corrupt Practices Acts. These rules will set forth parameters regarding whistleblower rights in publicly traded companies.
The Commission's meeting on Wednesday, May 25th at 9:30 a.m. EST, is open to the public and can also be viewed on a webcast at the SEC's website.
Links:
Washington Post "SEC Names Sean McKessy to Head New Whistleblower Office"
Since 1988, the NWC and attorneys associated with it have supported whistleblowers in the courts and before Congress and achieved victories for environmental protection, government contract fraud, nuclear safety and government and corporate accountability.
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As Senate Prepares for NDAA Vote, Progressive Caucus Says It Is 'Past Time' to Slash Pentagon Budget
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CPC Chair Pramila Jayapal (D-Wash.) said following the passage of the Servicemember Quality of Life Improvement and National Defense Authorization Act (NDAA) for 2025 (H.R. 5009) that "it should alarm every American taxpayer that we are nearing a trillion-dollar annual budget for an agency rampant with waste, fraud, and abuse."
Jayapal, who was one of 140 lawmakers to oppose the package, emphasized that the Pentagon has failed seven consecutive annual audits.
Despite being the only federal agency to never have passed a federal audit, said Jayapal, the Department of Defense "continues to receive huge boosts to funding every year. Our constituents deserve better."
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The Constitution vests Congress, not the president, with the power to declare war (though presidents have used military force without getting the OK from Congress on multiple occasions in modern history, according to the National Constitution Center).
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"There is no reason today to rely on speedy decision-making during situations in which the United States might launch first. Even as relations with Moscow are at historic lows, we are worlds removed from the Cold War's dominant knife's-edge logic," he wrote.
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A fragment of the munition found at the site of the attack was analyzed by an Amnesty International weapons expert and based upon its size, shape, and the scalloped edges of the heavy metal casing, identified as most likely a MK-80 series aerial bomb, which would mean it was at least a 500-pound bomb. The United States is the primary supplier of these types of munitions to Israel.
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