The recession of 2008 proved instrumental in convincing SEC, Securities and Exchange Commission, to pass laws protecting whistleblowers. As a result of the Frank-Dodd Wall Street Reform and Consumer Protection Act, enacted two years later, in 2010, whistleblowers from all walks of life are breaking their silence to report violations of financial securities law.
Most often, these employers would retaliate against the whistleblower by displacing them off their jobs. In addition, the person also had to face financial problems as other firms hesitated to hire them. Realizing the severity of the situation, Congress passed the Frank-Dodd Act, which provides financial and job security to the whistleblower. In fact, experts are citing the law as one of the most significant development on the Walls Street after the Great Depression, in 1929. Learn more: http://www.secwhistlebloweradvocate.com/program/program-overview
In response to the new legislation, Labaton Sucharow, a prominent law firm came forward to help and guide whistleblowers. Providing the world’s leading security legislation platform, the law firm has an in-house team of SEC whistleblower attorney, financial analysts, and forensic accountants who work with federal and state law enforcement to protect rights of the whistleblower. Interestingly, the team is headed by none other than Jordan A. Thomas, who is a former Assistant Director and Assistant Chief Litigation Counsel in the Division of Enforcement at the SEC. Actually, Thomas was also instrumental in the development of the Frank-Dodd Act.
According to the Dodd-Frank Act, a whistleblower is entitled anywhere between 10 percent and 30 percent of the monetary sanctions collected as a result of the successful enforcement. Additionally, if the threshold of $1 Million is met, the whistleblower may also be entitled to further financial proceeds resulting from the actions of other law enforcement agencies. More importantly, the law prohibits the employer to take any actions against the whistleblowing activities of the employee. Besides, it is also possible for the whistleblower to remain behind the scenes as a qualified SEC whistleblower lawyer can represent the client, instead.
For anyone interested in taking advantage of the whistleblowing program at Labaton Sucharow, they can contact the team through the website, email or telephone, whichever method is convenient. All consultations are highly confidential and protected by the attorney-client agreement. During initial consultation, the whistleblower is not forced to disclose the identity of the security violator.