,,ii #aaith ,,congress #ast ,session ,s4 #aadi ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #bf1 #bjbe,mr4 ,grassley 7for himself1 ,ms4 ,warren1 ,ms4 ,collins1 ,mr4 ,warnock1 and ,ms4 ,cortez ,masto7 introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,securities ,exchange ,act of #aicd to further enhance anti-retaliation protections for whistleblowers1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,,sec ,whistleblower ,reform ,act of #bjbe4 #b4 ,whistleblower protections for internal disclosures 7a7 ,in general ,section #ba;,f of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghu-#f7 is amended-- 7#a7 in subsection 7a77#f7-- 7,a7 by striking ,the term and inserting the following3 7,a7 ,in general ,the term 2 and 7,b7 by adding at the end the following3 7,b7 ,special rule ,solely for the purposes of subsection 7h77#a71 the term whistleblower includes any individual who takes1 or #b or more individuals acting jointly who take1 an action described in subsection 7h77#a77;,a71 that the individual or #b or more individuals reasonably believe relates to a violation of any law1 rule1 or regulation subject to the jurisdiction of the ,commission1 the ,public ,company ,accounting ,oversight ,board1 the ,municipal ,securities ,rulemaking ,board1 or a self-regulatory organization4 2 and 7#b7 in subsection 7h77#a7-- 7,a7 in subparagraph 7,a7-- 7i7 in the matter preceding clause 7i71 by inserting or post-employment after of employment2 7ii7 in clause 7i71 by inserting 1 in writing or orally if the oral report is documented1 after to the ,commission2 7iii7 in clause 7ii71 by striking or at the end2 7iv7 in clause 7iii71 by striking the period at the end and inserting 2 or2 and 7v7 by adding at the end the following3 7iv7 in providing information regarding any conduct that the whistleblower reasonably believes constitutes a violation of any law1 rule1 or regulation subject to the jurisdiction of the ,commission to-- 7,i7 a person with supervisory authority over the whistleblower at the employer of the whistleblower1 if that employer is an entity registered with1 or required to be registered with1 or otherwise subject to the jurisdiction of1 the ,commission1 the ,public ,company ,accounting ,oversight ,board1 a self-regulatory organization1 or a ,state securities commission or office performing like functions2 or 7,,ii7 another individual working for the employer described in subclause 7,i7 who the whistleblower reasonably believes has the authority to-- 7aa7 investigate1 discover1 or terminate the misconduct2 or 7bb7 take any other action to address the misconduct4 2 and 7,b7 in subparagraph 7,b71 by adding at the end the following3 7iv7 ,jury trial ,a person against which an action is brought under this subsection shall be entitled to a jury trial4 4 7b7 ,applicability ,the amendments made by subsection 7a7 shall apply to any claim involving a violation of section #ba;,f7h77#a7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghu-#f7;h77#a771 including a claim in an enforcement action or proceeding brought by the ,securities and ,exchange ,commission1 that is-- 7#a7 pending in any appropriate judicial or administrative forum1 as of the date of enactment of this ,act2 or 7#b7 filed after the date of enactment of this ,act4 #c4 ,prompt payment of awards ,section #ba;,f7b7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghu-#f7;b77 is amended by adding at the end the following3 7#c7 ,timely processing of claims 7,a7 ,initial disposition 7i7 ,in general ,except as provided in subparagraph 7,b71 the ,commission shall make an initial disposition with respect to a claim submitted by a whistleblower for an award under this section 7referred to in this paragraph as an award claim7 not later than the later of-- 7,i7 the date that is #a year after the deadline established by the ,commission1 by rule1 for the whistleblower to file the award claim2 or 7,,ii7 the date that is #a year after the final resolution of all litigation1 including any appeals1 concerning the covered action or related action4 7ii7 ,multiple actions ,if an award claim involves #a or more related actions1 the requirement under clause 7i7 shall apply with respect to the latest deadline with respect to the actions4 7,b7 ,exceptions 7i7 ,initial extension ,if the ,director of the ,division of ,enforcement of the ,commission 7referred to in this paragraph as the ,director71 or the designee of the ,director1 determines that an award claim is sufficiently complex or involves more than #a whistleblower1 or if other good cause exists such that the ,commission cannot reasonably satisfy the requirements under subparagraph 7,a71 as determined by the ,director or the designee1 as applicable1 the ,director or the designee1 after providing notice to the ,chairman of the ,commission 7referred to in this paragraph as the ,chairman71 may extend the deadline with respect to the satisfaction of those requirements by not more than #ahj days4 7ii7 ,additional extensions ,if1 after providing an extension under clause 7i71 the ,director1 or the designee of the ,director1 determines that good cause exists such that the ,commission cannot reasonably satisfy the requirement under subparagraph 7,a71 the ,director or the designee of the ,director1 may extend the deadline described in clause 7i7 as needed for #a or more additional successive #ahj-;day periods only after providing notice to and receiving approval from the ,commission4 7iii7 ,notice to whistleblower required ,if the ,director1 or the designee of the ,director1 exercises authority under clause 7i7 or 7ii71 the ,director or the designee1 as applicable1 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 action4 7,c7 ,applicability ,this paragraph shall apply only to an award claim that the ,director of the designee of the ,director determines is timely submitted under a deadline established by the ,commission after the date of enactment of this paragraph4 4 #d4 ,nonenforceability of certain provisions 7a7 ,in general ,section #ba;,f of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghu-#f7 is amended by adding at the end the following3 7k7 ,nonenforceability of certain provisions waiving rights and remedies or requiring arbitration 7#a7 ,waiver of rights and remedies ,the rights and remedies provided in this section may not be waived by any agreement1 policy form1 or condition of employment1 including by a predispute arbitration agreement4 7#b7 ,predispute arbitration agreement ,no predispute arbitration agreement shall be valid or enforceable if the agreement requires the arbitration of a dispute arising under this section4 4 7b7 ,applicability ,subsection 7k7 of section #ba;,f of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghu-#f71 as added by subsection 7a71 shall apply with respect to any action that is filed on or after1 or that is pending as of1 the date of enactment of this ,act4 #e4 ,rulemaking authority ,the ,securities and ,exchange ,commission may issue any rules that are necessary or appropriate to carry out this ,act consistent with the purposes of section #ba;,f of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghu-#f71 as amended by this ,act4