Washington one of only five states to add protection provisions for whistleblowers
OLYMPIA – The Washington State Department of Financial Institutions (DFI) is pleased to share that HB 1370, the Whistleblower Award and Protection Act is effective as of yesterday, July 23. This new law allows DFI’s Securities Administrator to provide financial awards to whistleblowers who provide original information to the Securities Division that leads to successful enforcement action under the Securities Act. It also provides protections from retaliation and confidentiality.
“We recognize that whistleblower complaints can be a source of valuable firsthand information about wrongdoing that may otherwise not come to light,” DFI Director of Securities William Beatty said.
“Washington’s whistleblower bill is important for the people who call our state home,” DFI Director Charlie Clark added. “It will allow people to come forward to report securities fraud, and protect them against retaliation.”
Washington State is happy to be one of only five states including these provisions for whistleblowers.
Learn more at Whistleblower Award and Protection Act Frequently Asked Questions. You can find the text of the new legislation at Whistleblower Bill 1370. To file a whistleblower complaint, you can use the Securities Division’s complaint form.