A ThinkAdvisor article recently featured leading SEC whistleblower attorney Stephen Kohn. The article concerned the “Whistleblower Programs Improvement Act.” The proposed bipartisan bill, introduced last month in the Senate by Sen. Charles Grassley, will protect securities whistleblowers who report internally from retaliation, among other things.
Stephen Kohn, a partner in the whistleblower law firm of Kohn, Kohn and Colapinto and the chairman of the Board of Directors of the National Whistleblower Center, added in a statement supporting the bill that the Whistleblower Programs Improvement Act “is essential to ensure that Wall Street whistleblowers are protected and that corporate crooks can be held accountable.
“The long delays in issuing rewards under the Dodd-Frank Act are seriously harming whistleblowers and the credibility of the Dodd-Frank Act whistleblower reward laws,” Kohn said, adding that whistleblowers often have to wait over four years to obtain a reward.
The bill, Kohn argued, also will end mandatory arbitration in securities whistleblower cases and protect whistleblowers who report violations internally to their managers.
Forcing whistleblowers “to litigate their wrongful discharge cases in corporate-controlled mandatory arbitration proceedings is the kiss of death for most whistleblowers,” Kohn said. “Mandatory arbitration denies whistleblowers their day in court.”
Read the full article: Senate Bill Would Boost Whistleblower Protections
More on the Whistleblower Programs Improvement Act: