In 2010, federal legislatures passed the most sweeping reform of Wall Street in decades. The law is known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. This legislation came in response to the global financial crisis of 2008. And one of the reasons that the global financial crisis took place is the fact that there were poor whistleblower protections on the federal level.
Whistleblowers within our financial institutions serve an important purpose in our economy. When an employee discovers fraud or other malicious activity within an financial institution, he or she must be allowed to come forward in order to expose the crimes. If whistleblowers are not allowed to shine a light on the underbelly of the financial industry, fraud on a mass scale is allowed to prevail. And this puts everybody at risk in a worldwide economy.
The Dodd Frank act not only puts more regulation on Wall Street, it goes a long way in protecting whistleblowers within our financial institutions. Not only are employers barred from retaliation against whistleblowers, the whistleblower is also entitled to financial compensation as an incentive. When a whistleblower provides the SEC with information under the rules of Dodd Frank, they are entitled to 10 to 30% of the monetary sanctions collected by the government so long as those sanctions exceed $1 million. That’s quite a payday.
But whistleblowers do not have to go it alone. Labaton Sucharow is the first law firm in the country to protect SEC whistleblowers exclusively while advocating for their rights. The law firm has the best securities litigation platform in the country. Labaton Sucharow employs an in-house team of investigators, forensic accountants and financial analysts while coordinating with state law enforcement officials.
Jordan A Thomas runs the practice. The former Assistant Director and Assistant Chief Litigation Counsel in the Division of Enforcement at the Securities and Exchange Commission uses his experience to protect and advocate for whistleblowers under the protections of Dodd Frank. And Jordan knows the law inside and out as he was an integral part of the development of the Dodd-Frank whistleblower program.
Jordan wants whistleblowers to know that they may be entitled to even more compensation under the Dodd Frank act. These include incentives culled from the sanctions collected from other law enforcement organizations. And you may even be able to whistleblower anonymously with Jordan’s representation. Call or email for a case evaluation today.
The SEC whistleblower lawyer helps one to try and get the maximum reward. The whistleblower should keep in mind that the reward could be as low as 10% and as high as 30% and should, therefore, strive to get the maximum amount. The attorney will also see to it that your protection rights are implemented after a successful case is built and the reward presented.
The SEC Legislation Program Protecting Whistle Blowers
The Dodd-Frank Wall Street Reform is also a Consumer Protection Act that has had an effect almost as strong effectual as the Great Depression on the U.S financial control and management. The Act was established to perform some tasks.
One of the main functions of the Dodd-Frank Act is to protect employees on their jobs and financial security when they report illegal activity to the commission of Securities and Exchange.
The Commission (SEC), has setup regulatory laws to encourage reporting of miscellaneous activities in the financial industry. Awards and pays the reports of Federal Security Law violation. A successful follow-up of a report that results in endorsements of more than $1 million will earn the reporter 10%-30% of the total amount. If they qualify for the 10%-30%, the person is qualified to receive additional monetary awards collected from the case when other legal organizations bring forth the same case. The SEC protects the whistleblower from retribution. In case they encounter a reprisal, they are required to report to a whistleblower lawyer for representation and protection. The employers of the whistle-blower are needed by the SEC regulations not to enforce any retribution on the employees.
Labaton Sucharow was the first legal enforcement firm set up to represent and protect whistle-blowers.
The company has employed professional and skilled investigators, financial specialists and forensic accountants to provide fully prepared protection to their clients. The staff at Labaton Sucharow are world-class experts in their fields. Jordan A. Thomas, the leader of Labaton Sucharow, was a former member of SEC.He served in the Division of Enforcement as an Vice Director and Vice Chief Litigation Counsel, where he was part of the team that created the Whistleblower Program. He led the team by enacting regulations and proposed laws to protect whistle-blowers.
When reporting a case, the individuals are advised to follow a few guidelines for protection against identification which may lead to external interference of the event of harm against the reporter. The reporter is not required to provide their names, However, to keep their identification anonymous, they are advised not to reveal neither their names nor the names of the violators in the first instance.
A whistleblower attorney protects the accuser without incurring charges on the early consultation. The information provided is treated as confidential to adhere to the guidelines of the SEC protection program.
The SEC provides International whistleblowers facing communication barriers with translation services.