The Securities and Exchange Commission is currently providing a protection program to individuals who volunteer to inform it on various illegal undertakings of companies that are in the finance sector. The SEC formed the whistleblower protection laws in 2010 after the Congress approved the Consumer Protection Act and the Dodd-Frank Wall Street Reform, which were the first laws to be passed after the Great Depression. The plan has regulations that safeguard the rights of the informants, and they state that the whistleblower should be offered job security and a financial incentive.
After the enactment of the two remarkable laws and the whistleblower protection program, various law companies were created to practice law that protects the informants. Other companies such as Labaton Sucharow formed units to offer legal services to the SEC sources. Labaton Sucharow was the first law firm to be involved in whistleblower representation in the United States. The company has a good reputation in offering plaintiff law. Its whistleblower representation practice has developed over time, and it currently has a unique system that it uses for filling litigations. The professionals who work for the firm are highly trained and competent, and they include financial specialists, forensic examiners, and detectives who well informed on the implementation of securities laws at the federal and state level. The whistleblower service of the company is trusted by its clients since it is headed by Jordan A. Thomas, who is highly experienced in dealing with securities.
The whistleblower protection program’s requirements state that the commission should give the whistleblower a financial incentive which is 10 to 30 percent of the collected sanctions. The informant should also be paid a fraction of the money that other law enforcement agencies collect due to the intelligence that they offered. Job security is also provided by the Dodd-Frank Act, which makes it illegal for companies to fire whistleblowers.
The whistleblowers can give intelligence to the SEC by using attorneys so as to protect their identity. Anyone can get more information about the whistleblower program by visiting or contacting the whistleblower representation team through messaging them on their website, emails, and telephones. The SEC does not require the informants to pay any money when reporting cases or consulting. It uses attorney-client privilege to safeguard the information that the sources provide.