Whistleblower Case Against GE, New Report Show Real Motives For Attacks on SEC Program

The U.S. Chamber of Commerce, General Electric and other corporations have been trying to kill the Securities and Exchange Commission’s whistleblower reward program ever since Congress created it under the Dodd-Frank Act two years ago.

Now a new study of whistleblowers and a court case involving GE show how flimsy their key argument against the SEC whistleblower program is.

The Chamber of Commerce and other corporate lobbyists have cloaked efforts to eviscerate the SEC whistleblower program by arguing that whistleblowers should be required to first report wrongdoing to their companies’ internal compliance programs before they can file an SEC whistleblower claim and receive a reward for their information. The Chamber of Commerce claims this would keep internal compliance programs from being bypassed and weakened.