S.Amdt. 3841

SA 3841. Mr. MENENDEZ submitted an amendment intended to be proposed
to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd (for himself
and Mrs. Lincoln)) to the bill S. 3217, to promote the financial
stability of the United States by improving accountability and
transparency in the financial system, to end ``too big to fail'', to
protect the American taxpayer by ending bailouts, to protect consumers
from abusive financial services practices, and for other purposes;
which was ordered to lie on the table; as follows:

On page 977, line 19, strike ``The'' and insert ``(a)
SECURITIES EXCHANGE ACT OF 1934.--The''.
On page 994, between lines 2 and 3, insert the following:
(b) Section 1514A of Title 18, United States Code.--
(1) Statute of limitations; jury trial.--Section
1514A(b)(2) of title 18, United States Code, is amended--
(A) in subparagraph (D)--
(i) by striking ``90'' and inserting ``180''; and
(ii) by striking the period at the end and inserting ``, or
after the date on which the employee became aware of the
violation.''; and
(B) by adding at the end the following:
``(E) Jury trial.--A party to an action brought under
paragraph (1)(B) shall be entitled to trial by jury.''.
(2) Compensatory damages.--Section 1514A(c)(2)(C) of title
18, United States Code, is amended by inserting
``compensatory damages, including'' before ``compensation''.
(3) Private securities litigation witnesses;
nonenforceability; information.--Section 1514A of title 18,
United States Code, is amended by adding at the end the
following:
``(e) Private Securities Litigation.--No employer may
discharge, demote, suspend, threaten, harass, directly or
indirectly, or in any other manner discriminate against, an
individual in the terms and conditions of employment because
of any lawful act done by the individual in providing
information, or assisting in any investigation or judicial or
administrative action, relating to a private securities
litigation action under section 21F of the Securities
Exchange Act of 1934 (15 U.S.C. 78u-4).
``(f) Nonenforceability of Certain Provisions Waiving
Rights and Remedies or Requiring Arbitration of Disputes.--
``(1) Waiver of rights and remedies.--Except as provided
under paragraph (3), the rights and remedies provided for in
this section may not be waived by any agreement, policy form,
or condition of employment, including by a predispute
arbitration agreement.
``(2) Predispute arbitration agreements.--Except as
provided under paragraph

[[Page S3269]]

(3), no predispute arbitration agreement shall be valid or
enforceable, if the agreement requires arbitration of a
dispute arising under this section.
``(3) Exception for collective bargaining agreements.--An
arbitration provision in a collective bargaining agreement
shall be enforceable as to disputes arising under the
collective bargaining agreement.''.
(4) Undisclosed liabilities.--Section 1514A(a)(1) of title
18, United States Code, is amended to read as follows:
``(1) to provide information, cause information to be
provided, or otherwise assist in an investigation regarding
any conduct which the employee reasonably believes
constitutes a violation of section 1341, 1343, 1344, or 1348,
any rule or regulation of the Securities and Exchange
Commission, any provision of Federal law relating to fraud
against shareholders, or any information which has not been
disclosed to shareholders that relates to a potential
liability of the company that, if incurred, could affect the
value of shareholder investments, when the information or
assistance is provided to or the investigation is conducted
by--
``(A) a Federal regulatory or law enforcement agency;
``(B) any Member of Congress or any committee of Congress;
or
``(C) a person with supervisory authority over the employee
(or such other person working for the employer who has the
authority to investigate, discover, or terminate misconduct);
or''.
(5) Technical and conforming amendment.--Section
1514A(b)(1) of title 18, United States Code, is amended by
inserting ``or (e)'' after ``subsection (a)''.
______