Since the Dodd-Frank Act was passed by Congress in 2010, many more whistleblowers are coming forth to report a wide variety of security violations.
Dodd-Frank is considered one of the most important pieces of legislation to come around since The Great Depression. While the act helps enforce rules and regulations regarding the banking industry, it also provides protection for whistlblowers report to the Securities Exchange Commission (SEC) without fear of reprisal. The program also provides whistleblowers financial incentives when sanctions exceed the $1 million mark.
The Lubaton Sacharow law firm has developed a whistleblower program to help individuals who want to talk to the SEC. They are the first law firm in the U.S. that established a program devoted specifically to whistleblowers. Individuals who want to cooperate with the SEC need protection and advocacy; Lubaton Sucharow provides both.
Piggybacking on its highly-successful securities litigation platform., the first-of-its-kind Whistleblower Representation Practice provides world-class service by a team of highly-trained professionals. Former SEC official Thomas A. Jordan leads the practice. During his time at the SEC, he Jordan provided duties in the role of Assitant Director of the Division of Enforcement. Jordan helped draft the rules regarding whistleblowers and implemented legislation.
Individuals participating in the whistleblower program are entitled to receive monetary awards based on a sliding fee. When successful prosecutions or sanctions are in excess of $1 million, the whistleblower will receive from 10%-30% of the the sanctioned amount.
Whistleblowers are also eligible to receive money from other law enforcement entities pursuant to the federal and state laws.
According to the Dodd-Frank Act, whistleblowers who are victims of retaliation can seek redress. Under the act, any type of harassment or behavior toward individuals who talk to the SEC can be punishable by additional fines up to jail time. SEC Whistleblowers may also report violations anonymously with a lawyer.
Individuals who are interested in finding out more about the SEC Whistleblower Program, may contact Lubaton and Sucharow by email, electronic submission or telephone. All consultations are free, and attorneys are bound by client-attorney privilege. During initial interviews, potential clients are encouraged to reveal the names of individuals involved in possible violations.