Recently, whistleblowers from all classes are reporting various securities violations that are significant to the SEC. This follows the enactment of Dodd-Frank Wall Street Reform and Consumer Protection Act by the Congress in 2010. This Act is the clear overhaul of the U.S. Financial regulations ever since the era of the Great Depression. The Dodd-Frank Act builds a new program for whistleblowers meant to provide significant financial incentives and employment protections to enable individuals report the possible violations of federal securities laws to the SEC (Securities and Exchange Commission).
Labaton Sucharow became the first ever law firm to establish an exclusive law firm that is focused on advocating and offering protection for the whistleblowers to the SEC in response to this new legislation. The Whistleblower Representation Practice builds on the securities litigation that is market-leading and brings together a team of forensic accountants, financial analysts and investigators. All these professionals are experienced in state and federal law enforcement and thus will be able to provide unmatched representation for whistleblowers. Jordan A. Thomas will be leading the practice and he is a former Assistant Chief Litigation Counsel and assistant director at the SEC Division of Enforcement. Jordan was instrumental in the developing the Whistleblower Program as he played a leadership role in the drafting and final implementation of the rules.
Under the program rules, SEC is supposed to pay whistleblowers that are eligible a 10-30% of the total monetary sanctions collected after a successful enforcement by the SEC or if the actions exceed the $1 million mark. If the threshold is met, the whistleblowers could further be eligible for other additional awards based on the monetary sanctions collected through related actions by other law enforcement and regulatory organizations. The Act also prohibits any form of retaliation by the employers against the whistleblowers who make their reports to SEC in accordance to the rules. It is also possible for whistleblowers to report any form of securities violations in an anonymous way if they are represented by a SEC whistleblower attorney.
If you are interested in learning more about the SEC Whistleblower program then you have plenty of ways to contact them via email, telephone or electronic submission through the website. Case evaluations and initial consultations are confidential, free and protected by the SEC whistleblower lawyer-client privilege. At the initial consultations, individuals are not supposed to provide any information that may identify them or the identities of the possible securities violators. There are translation services offered to the international whistleblowers