15 U.S.C. § 78u–7 — Implementation and transition provisions for whistleblower protection

FEDERAL · 15 U.S.C. · Chapter 2B

Implementation and transition provisions for whistleblower protection

Current through Pub. L. 119-102

Title 15 — Commerce and Trade·Ch. 2B — SECURITIES EXCHANGES

(a)Implementing rules The Commission shall issue final regulations implementing the provisions of section 78u–6 of this title, as added by this subtitle, not later than 270 days after July 21, 2010.

(b)Original information Information provided to the Commission in writing by a whistleblower shall not lose the status of original information (as defined in section 78u–6(a)(3) of this title, as added by this subtitle) solely because the whistleblower provided the information prior to the effective date of the regulations, if the information is provided by the whistleblower after July 21, 2010.

(c)Awards A whistleblower may receive an award pursuant to section 78u–6 of this title, as added by this subtitle, regardless of whether any violation of a provision of the securities laws, or a rule

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(a) Implementing rules
The Commission shall issue final regulations implementing the provisions of section 78u–6 of this title, as added by this subtitle, not later than 270 days after July 21, 2010.
(b) Original information
Information provided to the Commission in writing by a whistleblower shall not lose the status of original information (as defined in section 78u–6(a)(3) of this title, as added by this subtitle) solely because the whistleblower provided the information prior to the effective date of the regulations, if the information is provided by the whistleblower after July 21, 2010.
(c) Awards
A whistleblower may receive an award pursuant to section 78u–6 of this title, as added by this subtitle, regardless of whether any violation of a provision of the securities laws, or a rule or regulation thereunder, underlying the judicial or administrative action upon which the award is based, occurred prior to July 21, 2010.
(d) Administration and enforcement
The Securities and Exchange Commission shall establish a separate office within the Commission to administer and enforce the provisions of section 78u–6 of this title (as add 1 by section 922(a)).2 Such office shall report annually to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives on its activities, whistleblower complaints, and the response of the Commission to such complaints.

15 U.S.C. § 78u–7 (Implementation and transition provisions for whistleblower protection) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 111–203, title IX, §924, July 21, 2010, 124 Stat. 1850.)

Editorial Notes

Editorial Notes

References in Text
This subtitle, referred to in subsecs. (a) to (c), means subtitle B (§§921–929Z) of title IX of Pub. L. 111–203.
Section 922(a), referred to in subsec. (d), means section 922(a) of Pub. L. 111–203.

Codification
Section was enacted as part of the Investor Protection and Securities Reform Act of 2010, and also as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and not as part of the Securities Exchange Act of 1934 which comprises this chapter.

Statutory Notes and Related Subsidiaries

Effective Date
Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.

Definitions
For definitions of "Commission" and "securities laws" as used in this section, see section 5301 of Title 12, Banks and Banking.