Whistleblowers from different walks of life are reporting several security violations to the Securities and Exchange Commission (SEC). Back then in 2010, the Congress enacted two acts to guide whistleblowers across the country. These include the Consumer Protection Act and the Dodd-Frank Wall Street Reform act. The Consumer Protection Act was effective during the Great depression of the U.S economy. On the other hand, the Dodd-Frank Wall Street act developed a whistleblower program aimed at providing employment protections and financial incentives. Under this act, people were required to report any violations regarding federal security laws to the SEC.
The Whistleblower Representation Practice
Labaton Sucharow law firm was the first firm in the nation to establish a law practice focused exclusively on advocating and protecting SEC whistleblowers. The SEC’s Whistleblower Representation Practice was built on the firm’s securities litigation platform. These experts provide unconditional representation to whistleblowers.
The practice is headed by Jordan A. Thomas who previously held the position of Assistant Chief Litigation Counsel and Assistant Director in the SEC’s Division of Enforcement. Jordan played an executive role towards the establishment of the Whistleblower Program throughout his tenure at the Securities Exchange Commission (SEC). He contributed in documenting the proposed legislation and implementing rules. The SEC is focused exclusively on helping whistleblowers to make important decisions on whether, when and how to report securities violations without professional or personal regrets.
How Whistleblowers Are Paid
According to the program’s rules, the SEC is mandated to pay qualified whistleblowers 10 to 30% of the revenue generated as a result of SEC enforcement sactions. Whistleblowers are also entitled to additional awards if a threshold of $1 million is met during monetary enforcement sanctions. Consequently, the Dodd-Frank Act prohibits any retaliation by employers leashed against whistleblowers who comply with the program’s rules. Whistleblowers can report any securities violations discretely when represented by a lawyer.
The Whistleblower Representation Team
To learn more about the Securities Exchange Commission (SEC) Whistleblower Program or request case evaluations, one can contact the Whistleblower Representation Team via phone or email. One can also find more information on the SEC’s website. All case evaluations and initial consultations are confidential, free and protected by the lawyer-client privilege. When consulting the Whistleblower Representation Team, one is not required to disclose personal information or names of people who have committed securities violations. Translation services are also available upon request for international whistleblowers.
Learn more about SEC Whistleblower lawyers