The Securities and Exchange Commission has been offering security to its sources since 2010 when it formed the whistleblower protection program. The creation of the plan facilitated by the Congress when it passed the Consumer Protection Act and the Wall Street Reform of Doff-Frank. The transformation that was caused by the laws was the only significant one that had happened in the finance sector since the passing of the Great Depression. The Dodd-Frank Act was the legislation that led to the creation of the informant protection program. According to the regulations that have been set by the plan, anyone who provides helpful information that might result in the unearthing of fraudulent activities in the industry is entitled to job security and some money.
The rights of the SEC’s informants are defended by the various law companies that were formed after the enactment of the protection program. Labaton Sucharow is one of the law firms that offer whistleblower representation services. It was the first to start offering legal solutions to the SEC’s sources, and it has currently developed the best platform for filling litigations. The company has been recognized for the past five decades for offering excellent plaintiff representation. Labaton Sucharow provides excellent services through its employees who include private investigators, finance specialists, and forensic analysts who are well informed on the implementation of the federal and state securities laws. Jordan A. Thomas heads the provisions of the legal services to the whistleblowers. He is a partner of the firm and a trusted SEC whistleblower lawyer. Mr. Thomas formerly worked for the commission, and he was a member of the panel that formed the whistleblower security program.
The protection that informants are offered consists of job security and a financial incentive. The SEC gives it witnesses about 10 to 30 percent of the money that the offenders are fined. They are assured they will still have their jobs even after disclosing vital information. The Dodd-Frank Act illegalizes the harassment of the informants.
The SEC has ensured that anyone can consult it. People are not required to pay a fee when seeking guidance from the regulatory organization. Attorney-client privilege is used in safeguarding the information that is provided by the informant. It is advisable for anyone to hire a SEC whistleblower attorney if they would like to keep their identity private. People should also not give their names and addresses when offering information. The commission provides translators to help individuals who do not understand English.