BRT Letter to Chairman Garrett and Representative Waters on the Whistleblower Improvement Act | Business Roundtable


  • General Inquiries
  • Mailing Address
    300 New Jersey Avenue, NW
    Suite 800
    Washington, D.C. 20001
  • Media Contact
    Betsy Andres
    Senior Director

Membership Contact
LeAnne Redick Wilson
Senior Vice President


What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

Delivered December 12, 2011
The Honorable Scott Garrett
Subcommittee on Capital Markets and Government Sponsored Enterprises
U.S. House of Representatives
Washington, DC 20515
The Honorable Maxine Waters
Ranking Member
Subcommittee on Capital Markets and Government Sponsored Enterprises
U.S. House of Representatives
Washington, DC 20515
Dear Chairman Garrett and Representative Waters:
Business Roundtable, whose member CEOs lead companies that collectively employ more than 14 million Americans and generate over $6 trillion in annual revenues, endorses H.R. 2483, the Whistleblower Improvement Act, because it will protect and reinforce internal reporting mechanisms that enable companies to enforce the highest standards of conduct and ethical behavior. Business Roundtable urges all members of the Committee on Financial Services to vote to approve this legislation.
America’s business community has instituted strong reporting and compliance measures that encourage employees and corporate officers to report misconduct. These internal compliance systems are America’s first line of defense against fraudulent or unethical behavior.
H.R. 2483 strengthens internal compliance by requiring whistleblowers to first report misconduct internally before turning to the SEC. The legislation eliminates the perverse incentives included in the current whistleblower rule that encourages employees to bypass internal company compliance systems when reporting possible misconduct. The bill also prevents internal company compliance personnel, and whistleblowers who are themselves culpable for misconduct, from being eligible for whistleblower bounties – two additional sensible reforms.
Business Roundtable stands ready to work with you to see this important corporate governance reform measure enacted into law.
Thank you for your attention to this issue.
Alexander M. Cutler
Chairman and Chief Executive Officer, Eaton Corporation
Chairman, Corporate Governance Committee, Business Roundtable
C: Subcommittee on Capital Markets and Government Sponsored Enter

Achieving America's Full Potential

The CEO members of Business Roundtable believe

that realizing America’s full potential to create more high-wage jobs for U.S. workers and greater opportunity for middle-class families should be the nation’s top priority. America’s business leaders have identified six priorities for action by Congress and the Administration.