The U.S. justice system has seen many changes over the years and today there are many structures that make it easy for people to access justice. One of the systems that were put in place to fight wrong doings in the business world is the establishment of the SEC Whistleblower Program, which began in 2010. The program was launched as part of an amendment that was done to the Consumer Protection Act to offer SEC more powers to pursue cases of securities laws violations.
Before the amendment, there were insufficient structures to help in the pursuit of those who perpetrated injustices in the business world. Those who tried to report the injustices were threatened by one or more issues that would place them at risks. Many whistleblowers who successfully presented facts to the SEC were victimized and would fall in the hands of the perpetrators who were not happy with their actions. These problems invoked the federal government to come up with alternative measures that would empower the SEC to successfully pursue cases of securities violations.
One of the protections that came with the amendment is the ability of the whistleblower to present information anonymously. The anonymous reporting capabilities that came with the system allow whistleblowers to enjoy the protection of their identity during and after presenting the facts before the SEC. Additionally, the SEC offers rewards to whistleblowers to encourage them to keep sharing information that can help in the pursuit of the perpetrators of securities laws violations.
Amid these changes, there emerged firms to work with whistleblowers. The SEC Whistleblower Program works under laws and they expect that every whistleblower understands the laws around the system before presenting facts. Many whistleblowers cannot interpret the laws, so there is always the need to get someone with the skills to assist. Labaton Sucharow came up with a section that helps whistleblowers to understand the requirements of the SEC.
Through their Whistleblower Representation Service, they offer a SEC Whistleblower attorney to each whistleblower to pursue the facts presented to ensure the information is correct. Another SEC Whistleblower lawyer comes up with an assessment of the case to offer the possible valuation of the facts and what the whistleblower is likely to earn from rewards. Once the case is reviewed and the right advice given to the whistleblower, he/she can move to the SEC to share the facts for review.