The Congress amended the laws of the finance industry in 2010 to offer protection to people who providE useful information about organizations that conduct fraudulent activities that are against the federal securities laws. This change was done by passing the Consumer Protection Law and the Wall Street Reform of Dodd-Frank, which were the first noteworthy changes that had been done since the Great Depression. According to the whistleblower protection law that was made under the Dodd-Frank Act, when a volunteer provides the Securities and Exchange Commission with information, they are assured job security and are given a financial incentive.
Various law firms have been created since the implementation of the Dodd-Frank Act to offer legal representation to the individuals who volunteer to be SEC informants. An example of such companies is the Labaton Sucharow law firm, which was one of the pioneers in the industry. The company has currently established itself well, and it offers the best representation to its clients. Its has a competent litigation program that comprises of internal investigators who are controlled by the Whistleblower Representation Practice, financial specialists, and forensic experts who are well informed on the both the state and federal laws and can offer unparalleled representation to the clients.
The activities of the Labaton Sucharow are managed by Jordan A. Thomas. Mr. Thomas was the SEC’s Assistant Director and the Assistant Chief Litigation Counsel of the company’s Division of Enforcement. His role in the commission was significant in the formation of the Whistleblower Program and its implementation.
The Whistleblower Program set rules, which demand that the whistleblower should be awarded 10-30 percent of the penalties that the SEC collects after the investigations. The amount can also rise if the sanctions exceed the threshold, which is set at one million dollars. The Dodd-Frank Act states that employers will be prosecuted if the try to intimidate the whistleblower for giving information to the SEC.
The public can learn more about the Whistleblower Program by visiting the Whistleblower Representation Group or reaching them via telephone calls, emails, and website messages. The SEC does not charge any consultation fee and also protects the information that is offered using the attorney-client privileges. The whistleblower can report the information anonymously by being represented by an attorney. They are also advised not to disclose their personal data such as names, address and phone numbers. The commission provided a translator for foreigners.
Learn more about the SEC Whistleblower lawyers