There was a significant transformation of the finance industry in 2010 when the Congress passed the Doff-Frank Wall Street Reform and the Consumer Security Law. The two legislations were the first that had ever been enacted since the Great Depression. The laws led to the formation of the whistleblower protection program, which offers security to individual who give information to the Security and Exchange Commission. The plan was created under the Dodd-Frank Act, and it provides job security as well as a monetary incentive to the informants.
The enactment of the SEC whistleblower protection program triggered the formation of law companies, which are dedicated to offering services that protect the rights of the SEC whistleblowers. The first such law firm to be established is Labaton Sucharow. It created the pioneer whistleblower representation practice that has a reliable platform for filing litigation. The company has employed various professionals to ensure excellent service to the clients, and they include forensic analysts, private detectives, and financial experts who can effectively implement state and federal laws. The attorneys who serve the company are devoted to offering outstanding legal services to the SEC informants.
Jordan A. Thomas supervises Labaton Sucharow’s whistleblower representation practice. He is a highly knowledgeable professional who has dealt with securities laws for a long time. He was the deputy principal litigation officer of the SEC’s enforcement department and its assistant director. During his tenure in office, Jordan was a major participant in the formation of the whistleblower protection program.
The SEC’s laws state that approximately a third of the sanctions that are collected due to the leads of the informant should be offered to him or her as a reward. The whistleblower can also be given money by other government agencies that use the intelligence that is provided to penalize offenders. According to the Dodd-Frank Act, harassment of the informants by employees is prohibited.
The whistleblowers should prioritize hiding their identity when reporting cases. This is done to keep them safe, and it can be through not giving information such as names and addresses when reporting cases and hiring an attorney to be a representative. The SEC safeguards the informants by using the client-attorney privilege to secure information that they offer. Individuals are not required to pay any fees when consulting the SEC. Anyone who needs clarification on the program can contact the Whistleblower Representation Group through email and telephones.