In the past whistle blowing could easily cost a person his or her job. There were no laws that protected an employee in the event that they blew the whistle on illegal activity that was occurring in a company or business. Today, thanks to the Dobb-Frank Wall Street Reform and Consumer Protection Act, enacted by Congress in 2010, employees are protected. This reform and protection act has created a program that shields a person from getting fired. It also offers financial incentives to those persons that reveal possible instances where a company or business has broken federal securities laws to the Securities and Exchange Commission.
To help whistleblowers continue to feel comfortable in breaking their silence, Labaton Sucharow has developed the first law firm in the nation that is completely dedicated to providing protection and advocacy on behalf of SEC whistleblowers. This law firm has created a top-notch team composed of forensic accountants, investigators, and financial analysts that help to provide sound representation for whistleblowers. The firm is headed by Jordan A. Thomas. Thomas has much experience working with the SEC and he also has helped to develop the Whistleblower Program. He was responsible for drafting the proposed legislation as well as finalizing some of the rules.
With the assistance of Thomas the Whistle blowing programs provides a list of incentives to individuals. One of the incentives is money. Under the program the SEC is required to compensate the whistleblower with 10-30% of the money sanctions that were retrieved due to the acts of the whistleblower.
In addition to making sure that whistleblowers are properly compensated, the Labaton Sucharow makes sure that these individuals are protected. Previously, the jobs of whistleblowers were placed in jeopardy once they came forward with some incriminating information against the company or business that they work for. Today the Dodd-Frank Act helps to prevent these types of situations from occurring. Even though the Dodd-Frank Act is able to shield some employees may still be afraid to report information to the SEC.
Learn more about SEC Whistleblower lawyers