15 U.S.C. § 78d–4: Additional duties of…

Summary

The Inspector General must set up and run a phone hotline or other electronic way for Commission employees to send ideas to improve work and to report waste, abuse, misconduct, or mismanagement. The IG must keep the identity of anyone who uses the system private unless the person asks in writing to be identified, and must keep any specific details private if the person asks. The IG must review what is sent and recommend actions, and may recognize employees whose suggestions improve efficiency or cut down on waste or misconduct. Each year the IG must send Congress a report showing the kinds and numbers of suggestions and allegations, the benefits of suggestions, the seriousness of allegations, what the IG recommended or did about confirmed allegations, and what the Commission did in response. These activities are paid for from the Securities and Exchange Commission Investor Protection Fund under section 78u–6.

Title 15, §78d–4

Commerce and Trade, Source: USLM XML via OLRC

(a)Suggestion submissions by Commission employees

(1)Hotline established

The Inspector General of the Commission shall establish and maintain a telephone hotline or other electronic means for the receipt of— (A)

(B)allegations by employees of the Commission of waste, abuse, misconduct, or mismanagement within the Commission.

(2)Confidentiality

The Inspector General shall maintain as confidential—

(A)the identity of any individual who provides information by the means established under paragraph (1), unless the individual requests otherwise, in writing; and

(B)at the request of any such individual, any specific information provided by the individual.

(b)Consideration of reports

The Inspector General shall consider any suggestions or allegations received by the means established under subsection (a)(1), and shall recommend appropriate action in relation to such suggestions or allegations.

(c)Recognition

The Inspector General may recognize any employee who makes a suggestion under subsection (a)(1) (or by other means) that would or does—

(1)increase the work efficiency, effectiveness, or productivity of the Commission; or

(2)reduce waste, abuse, misconduct, or mismanagement within the Commission.

(d)Report

The Inspector General of the Commission shall submit to Congress an annual report containing a description of— (1)

(2)the nature, number, and seriousness of any allegations received under subsection (a);

(3)any recommendations made or actions taken by the Inspector General in response to substantiated allegations received under subsection (a); and

(4)any action the Commission has taken in response to suggestions or allegations received under subsection (a).

(e)Funding

The activities of the Inspector General under this subsection shall be funded by the Securities and Exchange Commission Investor Protection Fund established under section 78u–6 of this title.

Statutory Notes and Related Subsidiaries

Effective Date

Section effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as a note under section 5301 of Title 12, Banks and Banking.

§78d–4 Additional Duties of Inspector General

Summary

Title 15, §78d–4

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Citations & Metadata