The Dodd-Frank Act
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which is better known as the Dodd-Frank Act, is a legislation passed by the US Congress in 2010 with the intention of encouraging more citizens or corporate employees to come out and speak up in the event that they have solid evidence(s) that can demonstrate that a certain high-profile person has committed a huge financial violation.
Incentives of Becoming An SEC Whistleblower
Should a man choose to divulge key facts concerning the financial irregularities taking place in the company that he is working for, he will be put under the SEC Whistleblower Program that will ensure his safety. The main advantage of remaining within the said program is that the offenders or their alliances will not have a chance to react rather harshly against the informer.
This person can also receive monetary reward, as being in such a complex situation will prevent the person from assuming a regular job post while the final verdict has not been made. The typical amount that whistleblowers get is between 10 and 30 percent of the total sum gathered after the ruling. In case various groups have pledged to give fiscal remuneration once the defendant(s) is/are proven guilty, the informant may collect them too.
Protecting the Informer
Having an SEC Whistleblower attorney entails that the informer can deliver his statement and present any documentation through the lawyer without needing to be in attendance in the court. This is an acceptable action, specifically if the individual wishes to keep his identity concealed to further protect himself from the possible consequences of unearthing scandalous financial anomalies in the corporate world.
Among the initial firms that have adapted the practice of offering a SEC Whistleblower lawyer to informers is the Labaton Sucharow. The law firm encompasses a group of professionals in the field of financial analysis, accounting, and investigation who can represent the whistleblower stably. A previous Assistant Chief Litigation Counsel and Assistant Director in the SEC’s Division of Enforcement, Jordan A. Thomas, is on top of this company.