The Dodd- Frank Wall Street Reform and Consumer Protection Acts were passed in 2010 by Congress. They were the most comprehensive refurbishment of US financial legislation since the Great Depression.
Among the significant renovations made in the legislation was that the new whistleblower program must provide employment protections for whistleblowers. Additionally, it provided for financial compensation to people who reported vilations to the Securities and Exchange Commission (SEC).
Whistleblower Representation Practice
Following the legislation, Labaton Sucharow established the Whistleblower Representation Practice composed of highly skilled investigators, financial analysts, and forensic accountants. The team represents whistleblowers when dealing with personal and professional risks.
The Whistleblower Representation team is headed by Jordan A. Thomas, a former assistant director and Deputy Chief Litigation Counsel in the Division of Enforcement at the SEC. His experience guarantees that the whistleblowers will receive outstanding legal advice and representation.
The role of attorneys to whistleblowers
The lawyers verify the identity of the whistleblower, serves as an intermediary between SEC and the whistleblower during any investigation or enforcement action. Besides, they advocate for better remuneration in cases where a submission leads to successful SEC enforcement action. They also ensure anonymous reporting and employment protection.
In most cases, reporting violations anonymously offers the best protection against vengeful treatment. The society brands individuals who report violations as being disloyal. Subsequently, whistleblowers fear retaliation and social stigma when reporting security violations.
The fear of revenge from coworkers compromises corporate compliance and the ability of law enforcement authorities to detect violations. To address the issue, the whistleblower program facilitates anonymous reporting. The whistleblowers are anonymously represented by an attorney and must provide their counsel with a copy of the submission signed under the penalty.
A decision to report an employer can be challenging. Some people opt to remain silent for the fear of being demoted by their employers. The reality has been changed by the Dodd- Frank Wall Street Reform and Consumer Protection Act that protects employee whistleblowers.
The Act states that an employer should not discharge, demote, suspend, threaten or discriminate against whistleblowers for providing information to the SEC. If a whistleblower is targeted unfairly by an employer, he or she can sue the employer in a court of law.
Contact the SEC Whistleblower Program
You can communicate with the whistleblower attorneys by telephone, email, or electronic submission through the website. Consultations are free and confidential. It is not necessary for you to provide personal information or the names of SEC violators.