In 2010, the Dodd-Frank Wall Street Whistleblower Consumer Protection Act and Reform were enacted as one of the most far-reaching overhauls of the United States financial laws since the Great Depression in 2008. The program has many reforms that include the new whistleblower program which was established by the Dodd-Frank Act. It provides comprehensive financial incentives and significant employment protection to report violations of the securities laws to the Commission for Securities Exchange (SEC)
When responding to this historic regulation, the Labaton Sucharow law firm was the first of its kind to establish itself as an exclusive practice focused on advocating and protecting imminent SEC whistleblowers. While the company builds on its platform for securities litigations, their whistleblower practice representation leverages a high-end team of financial analysts, investigators, and forensic accountants with state and federal law enforcement know-how to provide state-of-the-art representation for possible whistleblowers. Jordan A. Thomas, the leader of the practice, is a former Assistant Chef Litigation Counsel and Director of the Enforcement Division at the Securities Exchange Commission. During his period of service at the Securities Exchange Commission, he played a leadership role in the Whistleblower Program Deployment. This included the final implementation rules and the draft of the proposed legislation.
Under the program’s new legislations, the Securities Exchange Commission should pay the eligible blowers an amount between 10 percent and 30 percent of the following sanctions as a result of the Securities Exchange Commission action of enforcement in which the amount in question exceeds $1 million. If they meet this threshold, the whistleblowers will also be eligible for an additional award based on the collected sanctions in monetary value by the law enforcement organizations and other regulatory companies. The Dodd-Frank’s Act prohibits any experienced retaliations by employing companies against the whistleblowers who report to the Securities Exchange Commission pursuant rule programs. Moreover, the whistleblowers are allowed to report possible susceptible violations in security exchanges if represented by a lawyer.
For more information about the Securities Exchange Commission Whistleblower Program, you can contact the representation team through electronic submission on the website, email, and telephone numbers. You can also request a case evaluation. All initial case assessments and consultations are free, protected, and confidential by the client-attorney privilege. During any first consultation processes, individuals should never provide identification documents or the names of the violators. There are translation services for international whistleblowers. Securities Exchange Commission works with the Dodd-Frank Act to provide the necessary coverage of this action.