2010 Law Protects Whistleblowers For The SEC

 

Back in 2010, the Consumer Protection Act known as the Dodd-Frank Wall Street Reform was enacted. It was one of the largest regulations regarding financial protections that has occurred since the Great Depression. These new guidelines offer employees incentives to report any and all violations they see regarding federal security laws. This act began before 9/11, but it has received much attention since that tragic day. Protection will be provided to the whistleblower as long as the offenses are reported to the Securities and Exchange Commission or SEC.

It’s not one of the most popular areas of law, but there are attorneys that do practice the scope of protecting whistleblowers. Labaton Sucharow is a pioneer in the movement to protect individuals who come forward. They advocate for anyone who speaks out against the SEC. Build on a marketing-securities platform, having this type of representation is something that gives them a leg up on other legal competitors. They also employ analysts and forensic accountants to keep things interesting.

The firm is led by Jordon Thomas who was once the director of the Assistant Chief Litigation Counsel. His recent employment was a part of the Sec’s enforcement division. While employed by the SEC, he was instrumental in creating this program. Now working for the law firm, he is one of the best people to help those who find themselves in the position of a whistleblower.

When tips are received from a whistleblower, it is commonplace for the SEC to collect tips. Any money received from these tips will be shared with the one who gave the information. They can share between 10-30 percent, but the shared amount will not exceed one million dollars. These are not the only awards that can be given. If an employer retaliates on the employee for telling of such violations, the Dodd-Frank Act brings protection. If there are any violations of the Act, the employee can give the information to the attorney that is representing them.

The whistleblower program is quite fascinating. Those who want to learn more about the program and what it entails can set up a free consultation. If you have been a victim of prejudice due to whistleblowing, you need attorney representation. The initial meeting doesn’t have to share details about the case unless you choose to retain the firm. If you need services, this firm is more than accommodating.