The Congress of the United States modified the laws of the financial industry in 2010 when they approved two major laws, which are the Consumer Protection Act and the Dodd-Frank Wall Street Reform. These were the next noteworthy legislative transformations in the sector since the Great Depression. The changes led to the formation of the whistleblower protection program by the Securities and Exchange Commission. The plan was primarily created to offer protection whistleblowers of the SEC by providing them with a significant financial reward and an assurance that they will have their jobs even after reporting their employers to the commission. Learn more: http://www.prnewswire.com/news-releases/second-largest-sec-whistleblower-award-granted-to-labaton-sucharow-client-300282555.html
Individuals who volunteer to be informants of the SEC are currently represented by various law companies that were formed after the enactment of the whistleblower protection program with the primary aim of serving the commission’s sources. A leading firm that has a whistleblower representation practice is the Labaton Sucharow. The firm was a pioneer in the sector, and it has grown over the years to offer an outstanding plaintiff representation for its clients. It has developed an unparalleled plan that is used in filling litigations, and it is supported by financial analysts, a highly skilled team of internal investigators, and forensic scientist. The employees of the company are informed on the implementation of the federal and state securities laws.
Jordan A. Thomas manages the Labaton Sucharow’s whistleblower representation plan. He has assisted in making the company successful due to his adequate knowledge on securities. Jordan is renowned in the sector for participating in the drafting and enacting of the whistleblower protection program.
The financial reward that should be offered to the SEC whistleblower should be approximately 10 to 30 percent of the total penalties that the Commission collects. The organization has set the ceiling of the incentive at one million dollars, but the informant can be offered additional money if other government agencies use the intelligence that he or she provided to collect fines. According to the Dodd-Frank Act, companies should not attempt to harass whistleblowers for offering information to the SEC. The Securities and Exchange Commission advises it sources to hide their identity and this can be done by not providing personal information when reporting cases as well as using the representation of an attorney.