The Securities and Exchange Commission recently proposed a change to how it rewards private citizens who blow the whistle on securities violations under the Dodd-Frank Act. Under the proposal, the commission would have the discretion to increase some whistleblower awards beyond the 30-percent statutory maximum, up to $2 million. It would pay for this by discretionarily reducing some of the larger awards.
When we think about speech protections, we often think of the First Amendment to the U.S. Constitution. The First Amendment only prohibits governmental actors from abridging freedom of speech, so it doesn't apply to private actors such as non-government employers. (The First Amendment does apply to government employers.)