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

7 Pages Posted: 18 May 2011 Last revised: 28 Sep 2011

Geoffrey Christopher Rapp

University of Toledo College of Law

Date Written: May 11, 2011

Abstract

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.

Keywords: whistleblowers, Dodd-Frank, financial services, testimony, bounties

Suggested Citation

Rapp, Geoffrey Christopher, 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 (May 11, 2011). University of Toledo Legal Studies Research Paper No. 2011-02. Available at SSRN: https://ssrn.com/abstract=1844586 or http://dx.doi.org/10.2139/ssrn.1844586

Geoffrey Christopher Rapp (Contact Author)

University of Toledo College of Law ( email )

2801 W. Bancroft Street
Toledo, OH 43606
United States

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