Page:United States Statutes at Large Volume 124.djvu/1867

 124 STAT. 1841 PUBLIC LAW 111–203—JULY 21, 2010 activities and evaluates the effectiveness of the Ombuds- man during the preceding year. The Investor Advocate shall include the reports required under this section in the reports required to be submitted by the Inspector Advo- cate under paragraph (6).’’. Subtitle B—Increasing Regulatory Enforcement and Remedies SEC. 921. AUTHORITY TO RESTRICT MANDATORY PRE-DISPUTE ARBITRATION. (a) AMENDMENT TO SECURITIES EXCHANGE ACT OF 1934.—Sec- tion 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o), as amended by this title, is further amended by adding at the end the following new subsection: ‘‘(o) AUTHORITY TO RESTRICT MANDATORY PRE-DISPUTE ARBITRA- TION.—The Commission, by rule, may prohibit, or impose conditions or limitations on the use of, agreements that require customers or clients of any broker, dealer, or municipal securities dealer to arbitrate any future dispute between them arising under the Federal securities laws, the rules and regulations thereunder, or the rules of a self-regulatory organization if it finds that such prohibition, imposition of conditions, or limitations are in the public interest and for the protection of investors.’’. (b) AMENDMENT TO INVESTMENT ADVISERS ACT OF 1940.—Sec- tion 205 of the Investment Advisers Act of 1940 (15 U.S.C. 80b– 5) is amended by adding at the end the following new subsection: ‘‘(f) AUTHORITY TO RESTRICT MANDATORY PRE-DISPUTE ARBITRA- TION.—The Commission, by rule, may prohibit, or impose conditions or limitations on the use of, agreements that require customers or clients of any investment adviser to arbitrate any future dispute between them arising under the Federal securities laws, the rules and regulations thereunder, or the rules of a self-regulatory organization if it finds that such prohibition, imposition of condi- tions, or limitations are in the public interest and for the protection of investors.’’. SEC. 922. WHISTLEBLOWER PROTECTION. (a) IN GENERAL.—The Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) is amended by inserting after section 21E the following: ‘‘SEC. 21F. SECURITIES WHISTLEBLOWER INCENTIVES AND PROTEC - TION. ‘‘(a) DEFINITIONS.—In this section the following definitions shall apply: ‘‘(1) COVERED JUDICIAL OR ADMINISTRATIVE ACTION.—The term ‘covered judicial or administrative action’ means any judicial or administrative action brought by the Commission under the securities laws that results in monetary sanctions exceeding $1,000,000. ‘‘(2) FUND.—The term ‘Fund’ means the Securities and Exchange Commission Investor Protection Fund. ‘‘(3) ORIGINAL INFORMATION.—The term ‘original informa- tion’ means information that— 15 USC 78u–6.