SEC is Restoring Stability in the U.S. Financial Sector through the Whistleblower Program

The Securities Exchange Commission is instrumental in ensuring that securities violators face penalties. This commission also relies on information provided by its whistleblowers. The Dodd-Frank Act is more applicable to whistleblowers because it established a whistleblower program, which provides financial incentives and employment protections to people who report securities violations. The U.S Congress approved this act together with the Consumer Protection Act back in 2010. This Act protects whistleblowers against injustices.

The Whistleblower Representation Practice

Labaton Sucharow is a law firm that established the first practice (the Whistleblower Representation Practice) in the United States that protects and advocates for SEC whistleblowers. The law firm uses a securities litigation platform to enhance the functionalities of the practice. The company’s professional team comprises of financial analysts, forensic accountants, and investigators with extensive experience in federal and state law.

Jordan Thomas, a securities violations expert, is the chair of the Whistleblower Representation Practice. He previously worked as an assistant to both legal counsel and director positions at SEC’s enforcement division. Jordan was also instrumental in the practice’s development when he used to work for the SEC. He was also a contributor to the final implementation of the proposed legislation rules that guide the practice. If you are in need of a SEC whistleblower lawyer, Labaton’s Practice can help you out.

How SEC Pays Whistleblowers

The whistleblower’s rules mandate the SEC to pay whistleblowers a share of 10 to 30 percent of the collected monetary sanctions. SEC usually obtains monetary sanctions when conducting enforcement actions. When these sanctions exceed $1 million, eligible whistleblowers should receive more awards. Learn more:

Monetary sanctions collected by law enforcement and regulatory agencies also count when SEC pays whistleblowers. Based on the Dodd-Frank Act’s policies, employers should not retaliate against SEC whistleblowers that adhere to the program rules. Furthermore, the practice allows whistleblowers to observe anonymity when reporting securities violations as long as they have an attorney.

How to Become a SEC Whistleblower

SEC invites the public who would like to join the whistleblower program or ask a case evaluation. The Whistleblower Representation Team responds promptly to telephone calls, emails or comments submitted on SEC’s website. It is free to ask for case evaluations and initial consultations from the SEC. However, when acquiring an initial consultation service, SEC does not need you to present your name, area of residence, or names of securities violators. The commission also provides webinar programs to the public on securities violations. Practitioners such as corporate lawyers and accountants can acquire ethical skills that help when reporting violations in their professional careers. A whistleblower can choose to file a report of securities violations through a SEC whistleblower attorney.