CONGRESSWOMAN SYLVIA GARCIA (TX-29) REINTRODUCES THE PCAOB WHISTLEBLOWER PROTECTION Bill

Washington D.C. – Today, Congresswoman Sylvia Garcia (TX-29) reintroduced the Public Company Accounting Oversight Board (PCAOB) Whistleblower Bill. This bill protects whistleblowers with legitimate information that can lead to law enforcement action by the PCAOB and ensures public companies and their accounting firms do not jeopardize the financial security of consumers and our economy.

"The PCAOB Whistleblower Bill of 2022 strengthens the transparency of our Nation's public markets by protecting whistleblowers who have reliable information for law enforcement," said Congresswoman Garcia. "This bill is a necessary first step in protecting the integrity of public companies and markets."

"The PCAOB was originally established to ensure the proper oversight of audits of public companies. This was done after the implosion of Enron and their accounting firm, Arthur Anderson, which was damaging to my district in Houston. I am proud of this bill and what it will do to ensure the PCAOB functions properly and protects consumers and workers from bad actors that could jeopardize the stability of our public markets."

Congresswoman Garcia's bill is identical to H.R. 3625 PCAOB Whistle Protection Act of 2019 – which was her first bill to pass the House of Representatives. The Senate unfortunately failed to pass this much-needed bill in the 116^th Congress.

The following members have signed on as original cosponsors:

Rep. Alma Adams (NC-12)

Rep. Madeleine Dean (PA-4)

Rep. Katie Porter (CA-45)

Rep. Al Green (TX-9)

Rep. Troy A. Carter (LA-02)

Endorsers of the bill:

Project on Government Oversight (POGO)

"The PCAOB Whistleblower Protection Bill of 2022 would create a whistleblower reward program at the PCAOB and put in place guardrails to protect whistleblowers from retaliation. This is a strong first step in ensuring that the PCAOB is able to effectively execute its mission to oversee audits of public companies, and it would provide greater accountability and enforcement to an entity that sorely needs it."

You can read the full bill text here.

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Congresswoman Sylvia R. Garcia was elected to the U.S. House of Representatives in November 2018, becoming the first Latina ever to represent the Texas 29th Congressional District. She serves on both the House Judiciary and Financial Services Committees.