Whistleblowers who give intelligence to the Securities and Exchange Commission on fraudulent undertakings of various companies are currently protected by the laws that were enacted by the United States Congress in 2010. These noteworthy acts are the Wall Street Reform of Dodd-Frank and the Consumer Protection Law, and they are the only two necessary changes that have been made since the Great Depression. The protection laws of the whistleblowers were drafted under the Dodd-Frank Act, and they have significantly helped in the protection of the informants. The job security of these individuals is guaranteed by these regulations, and they are also entitled to a monetary reward. http://www.secwhistlebloweradvocate.com/program/program-overview
The enacting of the crucial Dodd-Frank Act has led to the establishment of many law companies that have specialized in the provision of whistleblower representation. An example of these organizations is the Labaton Sucharow law company that was the first to be formed and has been providing the best whistleblower representation services in the industry. The company has currently created stable structures that they use in offering their services. The Labaton Sucharow law firm has a competent program for creating litigations, a Whistleblower Representation practice that is used in managing an inside panel of investigators, financial analysts, and scientific auditors who have sufficient knowledge in the enactment of the law. The administration of the company is led by Jordan A. Thomas who is a former Assistant Chief Litigation Counsel of the organization’s Division of Enforcement, and also it’s Assistant Director. He currently serves as a SEC whistleblower lawyer, and when he was still in office, Jordan helped in the creating the whistleblower program and also implementing it.
The reward that is recommended to the whistleblower by the protection program is 10-30 percent of the fines that are collected. The law sets the threshold of the sanctions to be one million dollars. However, if other agencies that enforce the law lead to the collection of more penalties, the informant can be given more money. The Dodd-Frank Act also protects sources from being harassed by their employees.
Whistleblowers who would like to provide information without disclosing their identity can seek the services a whistleblower representation attorney. No fee is charged by the commission during the first consultations. The SEC gives free translators for informants who cannot speak English and the intelligence that they offer is protected by the attorney-client privilege. More information on the program can be accessed by reaching the Whistleblower Representation Group through phone calls, emails, and messages on the organization’s website.