Whistleblowers Break their Silence on Security Violations

The American Congress enacted the revolutionary Dodd-Frank Wall Street Reform and Consumer Protection Act, in 2010. That was the most progressive overhaul of the U.S. financial regulations since the Great Depression. The Dodd-Frank Act particularly established a new whistleblowers program that enforces significant employment protection and monetary incentives for individuals who report the Securities and Exchange Commission (SEC) concerning possible violations of federal security laws.

SEC Whistleblower Attorney in the U.S

The first law firm to respond to this historic legislation was the Labaton Sucharow Attorneys. They were the first to establish a legal practice exclusively focusing on the protection and advocating for SEC whistleblowers. The Labaton Sucharow has been the market leader in Securities Litigation, and that foundation provides whistleblowers with a strong representation. They have a world-class team of in-house investigators, forensic accountants, and financial analysts drawn from the federal and state law enforcement agencies across the nation. They offer exceptional representation for every whistleblower to ensure that their jobs are protected and incentives paid in full.

Lawyer Jordan A. Thomas who is a former Assistant Chief Litigation Counsel and Assistant Director of the SEC’s Division of Enforcement is the lead SEC Whistleblower Lawyer. During his time at the SEC, Jordan led the development and enforcement of the Whistleblower Program. He participated in the drafting of the proposed legislation and the final implementation rules.

Incentives for SEC Whistleblowers

Under the new rules of the program, the Act requires SEC to pay eligible whistleblowers a 10-30% portion of the monetary sanctions recovered as a result of successful SEC enforcements, or, for actions where the penalties are above $1 million. Whistleblowers who meet those thresholds may also be eligible for additional awards depending on the monetary sanctions collected in similar actions by other law enforcement or regulatory bodies.

The Dodd-Frank Act also prohibits any retaliatory action by employers against their employees who report to SEC based on the program rules. Furthermore, whistleblowers may choose to report to SEC as anonymous persons when represented by attorneys so as to protect their image and guarantee them job security.

To access the SEC Whistleblower Program, the initial consultation, and case evaluation is free and confidential. The confidentiality is protected under the attorney-client privilege. During these initial consultations, individuals are not required to disclose personally identifying information including the names of suspected securities violators. However, it is strongly recommended to give the investigators clear information on where to begin. International whistleblowers may have access to translation services on request.

http://www.prnewswire.com/news-releases/second-largest-sec-whistleblower-award-granted-to-labaton-sucharow-client-300282555.html