Legislative Proposals to Address the Negative Consequences of the Dodd-Frank Whistleblower Provisions: Written Testimony Submitted to the U.S. House Committee on Financial Services, Subcommittee on Capital Markets and Government Sponsored Enterprises
Geoffrey Christopher Rapp
University of Toledo College of Law
May 11, 2011
University of Toledo Legal Studies Research Paper No. 2011-02
The author testified at a U.S. House Committee on Financial Services, Subcommittee on Capital Markets and Government Sponsored Enterprises hearing on May 11, 2011. The hearing explored a discussion draft of legislation which would modify the whistleblower bounty provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The author's testimony suggested that the proposed reforms, which included a requirement of internal reporting to preserve a whistleblower's bounty eligibility, a change from mandatory to discretionary bounties, and a prohibition on contingency fees, would dull the incentives Dodd-Frank's bounty provision was meant to foster.
Number of Pages in PDF File: 7
Keywords: whistleblowers, Dodd-Frank, financial services, testimony, bounties
Date posted: May 18, 2011 ; Last revised: September 28, 2011
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