Capitol Report: Top House Democrats call for whistleblower protection
WASHINGTON (MarketWatch) Eight leading House Democrats called on the chairwoman of the Securities and Exchange Commission to ensure corporate practices preventing whistleblowing will not be tolerated.
Led by Ranking Democrats of the House Oversight and Government Reform Committee and House Financial Services ranking Democrats, Rep. Elijah Cummings and Rep. Maxine Waters, respectively, the letter pointed out the success of the SECs Office of Whistleblower Protection, which they noted has led to more than 6,000 tips, complaints and enforcement functions.
But the letter addressed to SEC Chairwoman Mary Jo White also pointed to a recent Washington Post article, which said companies restricted employees ability to report misconduct at their companies.
We also are concerned by a growing body of anecdotal evidence describing retaliation through litigation and on-the-job harassment, which if left unaddressed, will also deter future reporting of securities violations, the letter said.
The letter said the use of such limitations run contrary to the rule set by the SEC, which says nothing shall impede communications to the Commission, including using or threatening to use a confidentiality agreement.
We urge the Commission to send a strong message to industry, including by bringing enforcement actions if necessary, that such acts will not be tolerated, the letter said.
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Capitol Report: Top House Democrats call for whistleblower protection