Following the financial crisis of 2007, the U.S. government reacted by implementing the historic Dodd-Frank Wall Street Reform together with the Consumer Protection Act to regulate the financial world. The Dodd-Frank Act, in turn, established a whistleblower program that rewards people who report mischievous deals meant to defraud financial institutions. The Security and Exchange Commission (SEC) focuses on policing the financial industry and implementing the whistleblower program.
The first law firm to adopt and implement the Dodd-Frank Act was Labaton Sucharow. The company took the initiative of protecting and advocating for whistleblowers. The Whistleblower Representation Practice is comprised of investigators, forensic accountants, and competent financial analysts. Other strategic partners work in close collaboration with Whistleblower Representation Practice to help them understand securities fraud schemes and assist in the enforcement action.
This law firm does not coerce people to report about security violations; it only represents people who are interested in reporting incidences of federal or state laws violations to the SEC. Since the whistleblowers are bearers of information, they are given an opportunity to decide how they want the case to be handled. Labaton Sucharow is famous for investing time and resources in these kinds of cases while allowing their clients to decide on the way forward. This law firm takes the initiative of conducting thorough research to ascertain that the violation happened. Additionally, they try to understand the objectives of client, assess the risks, and benefits associated with reporting a violation and, come up with strategies to deal with retaliating employers
About Jordan Thomas
Jordan A. Thomas, who used to work at The Security and Exchange Commission as the assistant director and chief litigation counsel, heads Labaton Sucharow. At SEC, Jordan was a key player who helped in creation and execution of legislations. As the brains behind the implementation of SEC laws, Jordan is a talented SEC whistleblower attorney who ensures whistleblowers are receiving fair treatments at their workplaces.
How do whistleblowers benefit from their selfless acts?
The whistleblower program has clearly stated the amount a whistleblower should receive if SEC manages to use his or her information to enforce monetary sanction. The whistleblower is awarded 10 to 30 percent of the monetary sanctions obtained following a successful enforcement action against the perpetrators. Additionally, if more money is collected during the SEC actions, a whistleblower is entitled to receive an additional reward. The SEC also offers protection to whistleblowers against retaliation by their bosses. Whistleblowers are given the option to report these unlawful acts anonymously through representation by a SEC whistleblower lawyer.