House Background Summary HB 1370 — Payment of awards to whistleblowers who report violations of securities laws

Summary

A House Background Summary of HB 1370, passed by the House on March 3, 2023, titled as an act relating to payment of awards to whistleblowers who report violations of state or federal securities laws. The sponsors are Representatives Reeves, Corry, Reed, Morgan, Ramel, Pollet and Leavitt, by request of the Department of Financial Institutions. Committee activity lists Consumer Protection & Business on 1/31/23 and 2/7/23 and Appropriations on 2/20/23 and 2/23/23, each marked DP. The floor vote is 96-0, and Drew Bouton and Faith Anderson of the Department of Financial Institutions are listed as testifying.

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                 HOUSE BACKGROUND SUMMARY
                           HB 1370
                                        As Passed House:
                                         March 3, 2023

Title: An act relating to the payment of awards to whistleblowers who report violations of state
     or federal securities laws and providing protection to whistleblowers and internal reporters.

Brief Description: Providing the payment of awards to whistleblowers who report violations of
     state or federal securities laws and providing protection to whistleblowers and internal
     reporters.

Sponsors: Representatives Reeves, Corry, Reed, Morgan, Ramel, Pollet and Leavitt; by request
    of Department of Financial Institutions.

Brief History:
     Committee Activity:
         Consumer Protection & Business: 1/31/23, 2/7/23 [DP];
         Appropriations: 2/20/23, 2/23/23 [DP].
     Floor Activity:
         Passed House: 3/3/23, 96-0.

Voting Yea: Representatives Abbarno, Alvarado, Barkis, Barnard, Bateman, Berg, Bergquist,
Berry, Bronoske, Caldier, Callan, Chambers, Chandler, Chapman, Cheney, Chopp, Christian,
Connors, Corry, Cortes, Couture, Davis, Dent, Doglio, Donaghy, Duerr, Dye, Entenman, Eslick,
Fey, Fitzgibbon, Fosse, Goehner, Goodman, Graham, Gregerson, Griffey, Hackney, Hansen,
Harris, Hutchins, Jacobsen, Klicker, Kloba, Kretz, Leavitt, Lekanoff, Low, Macri, Maycumber,
McClintock, Mena, Morgan, Mosbrucker, Orcutt, Ormsby, Ortiz-Self, Orwall, Paul, Peterson,
Pollet, Ramel, Ramos, Reed, Reeves, Riccelli, Robertson, Rude, Rule, Ryu, Sandlin, Santos,
Schmick, Schmidt, Senn, Shavers, Simmons, Slatter, Springer, Stearns, Steele, Stokesbary,
Stonier, Street, Taylor, Thai, Tharinger, Timmons, Volz, Walen, Walsh, Waters, Wilcox, Wylie,
Ybarra and Jinkins

Voting Nay:

Absent:




                                               -1-                                         HB 1370
Excused: Representatives Farivar and McEntire

    Persons Testifying (Consumer Protection & Business): Representative Kristine Reeves,
    prime sponsor; and Drew Bouton and Faith Anderson, Department of Financial Institutions.

    Persons Testifying (Appropriations): Drew Bouton, Department of Financial Institutions.

    Persons Signed In To Testify But Not Testifying (Consumer Protection & Business):
    None.

    Persons Signed In To Testify But Not Testifying (Appropriations): None.




                                            -2-                                     HB 1370


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