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UTAH STATE SENATE

UTAH STATE CAPITOL COMPLEX * 320 STATE CAPITOL

P.O. BOX 145115 * SALT LAKE CITY, UTAH 84114-5115 * (801) 538-1035

        January 25, 2012

Mr. President:

    The Business and Labor Committee reports a favorable recommendation on S.B. 90, SECURITIES FRAUD REPORTING PROGRAM ACT AMENDMENTS, by Senator B. McAdams, with the following amendments:

1.    Page 2, Lines 51 through 55 :    

             51          (d) [the employer or entity in the covered judicial or administrative action that relates
             52      to the information provided by the reporter is subject to the jurisdiction of the Securities and
             53      Exchange Commission under] the employee

{   qualifies for protection   }        is protected       from adverse action as

             54      described in Section 21F of the Securities Exchange Act, 15 U.S.C. Sec. 78u-6, and regulations
             55      issued under that section.

2.    Page 3, Lines 63 through 65 :    

             63          (3) (a) Subject to the other provisions of this section, the commission may determine
             64      the amount of award paid under this section, except that in determining the amount the
             65      commission
{   shall   }        may       consider:



        Respectfully,

        John L. Valentine
        Committee Chair

Voting: 6-0-2
3 SB0090.SC1.wpd /BRH PO/BRH 1/25/12 3:38 pm


Bill Number
Action Class
Action Code

*SB0090*
*S*
*SCRAMD*

SB0090
S
SCRAMD