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.
Labaton Sucharow’s SEC Whistleblower Practice, the first law firm in the United States to focus on representing whistleblowers, proudly announced that one of their clients was recently awarded $17 million for information that brought securities law violations to light. The award is the second-largest amount given to a whistleblower since the Dodd-Frank Act’s whistleblower rewards program began six years ago. The anonymous person gave the Securities and Exchange Commission (SEC) the tip though Labaton Sucharow LLP, which led to the high dollar sanctions against a leading firm in the financial services industry. According to SEC whistleblower attorney Jordan A. Thomas, other employees at the financial services firm kept quiet; only his law firm’s client had the courage to speak up and prevent investors from further harm. His or her courage was well rewarded. http://www.prnewswire.com/news-releases/second-largest-sec-whistleblower-award-granted-to-labaton-sucharow-client-300282555.html
Jordan A. Thomas of the law firm Labaton Sucharow LLP also represented the first public company officer to obtain a monetary incentive for furnishing the SEC with a tip about wrongdoing.
Whistleblower assistance is a valuable tool for the SEC, which is why individuals, or several people acting jointly, may receive 10 to 30 percent of sanctions totaling $1,000,000 or more. Swift action by the SEC minimizes harm to the market and to investors, which is why the SEC pays higher monetary incentives to tipsters who have original, credible information that they promptly report. Individuals who delay reporting possible violations may have their reward reduced. Prompt assistance if the SEC needs more information may increase a person’s reward, although rewards never exceed 30 percent. Monetary rewards are paid from the Investor Protection Fund established by Congress. Individuals who are concerned that they are ineligible for a whistleblower reward should consult an attorney. There are a number of regulations governing who is eligible for a reward and exceptions to the various regulations.
Although the SEC has not publicly named whistleblowers, the only way to make an anonymous report is through an SEC whistleblower lawyer. An attorney specializing in securities law may also help his or her client draft an easily discernible submission that contains sufficient information for the SEC to act.
The whistleblower protection laws were passed after the approval of the Wall Street Reforms of Dodd-Frank and the Consumer Security Act by the United States Congress in 2010. The regulations that were created under the Dodd-Frank Act are devoted to ensuring the protection of the SEC informants by guaranteeing them job security and giving them a financial incentive. Anyone who offers information to the Securities and Exchange Commission on the fraudulent transactions of any organization qualifies to be protected by the laws.
Many firms that solely practice whistleblower representation law have currently emerged. They are committed to safeguarding the rights of the SEC informants and providing them with legal representation. A leading company in the sector if the Lebaton Suchara law firm. It was one of the frontrunners of the industry, and it has currently structured itself to offer outstanding representation to the SEC whistleblower. The company is served by well-trained attorneys and other professionals who include financial analysts, in-house investors, and forensic auditors. The experts have sufficient knowledge and experience on the enactment of the federal and state securities laws, and this enables them to provide unparalleled representation services to the clients.
The whistleblower representation team of Lebaton Sucharow is headed by Jordan A. Thomas. Mr. Thomas is an experienced attorney and he once held senior offices at the Securities and Exchanges Commission. He was its deputy director and the assistant chief litigations counsel of the enforcement department. Jordan is celebrated in the industry for his significant input in the drafting and execution of the SEC’s laws that protect the whistleblowers.
According to the whistleblower protection program, the informant of the commission is given approximately 10-30 percent of the money that the offenders pay. The ceiling of this amount is one million dollars. However, the informant can also be offered more money by other government law enforcement agencies that collect penalties as a result of the information that is provided by the whistleblower. The law also defends the informant from being sacked or harassed by the employers.
The SEC whistleblowers can also report cases without disclosing their identity, and this is by using attorneys to represent them. The attorney-client privilege is used by the SEC to safeguard the information that the whistleblowers provide. Consulting the SEC is free to both U.S citizens and foreigners. Any interested person can learn more about the whistleblower representation laws by contacting the whistleblower representation team via telephones or emails.
With the rising cases of illegal businesses in the world, whistle blowers are a fundamental component of our society. A whistle blower is responsible for securing our systems by telling on people who engage in illegal activities. When a whistle blower finds out about an illegal business, he is permitted by law to report the case and have an attorney open investigation for it. Within our organizations, whistleblowers are responsible for informing the human resource department of the unethical acts by employees. Well as much as whistleblowers work hard at protecting citizens from the immoral ways of law breakers, whistleblowers need protection too. There could more influential people interfering with the progress of whistleblowers. That is why Securities and Exchange Commissions, abbreviated as SEC, was created with the aim of representing whistleblowers.
In 2010, Dodd-Frank Wall Street Reform formed the SEC whistleblower with the goal of offering employment protection to workers as well financially rewarding the informants of violators. In return, a law firm by the name Labaton Sucharow responded by generating a practice aimed at supporting SEC. Labaton Sucharow had a progressive history with offering security to individuals. Embracing SEC was a bonus to Labaton Sucharow. Initially headed by Jordan A. Thomas, SEC drafted protection laws for its clients. Rules were also implemented with the aim of guarding whistleblowers. SEC pays the whistleblowers approximately 10-30% of successfully presented cases. In addition to the 30%, SEC offers monetary rewards to whistleblowers calculated against the total income of the cases represented. The Dodd-Frank Act also bars employees from going against whistleblowers. In the event of retaliation by employees, legal action shall be taken against the particular persons.
One of the major rising questions in every discussion is how SEC manages to offer its whistle blower clients attorney privilege. According to the whistle blowers hand book, it is the duty of SEC to:
• Issue new rules
• Amend the existing rules
• Ensuring security firms are inspected for fraud and other unethical vices
• Monitoring private regulatory firms
• Coordinating U.S based security laws with the state, foreign and federal authorities.
SEC is chaired by a Commission of five members namely where there are one chairperson and four members of the commission. All of SEC’s members are appointed by the president whereas the Senate does confirmation to the chairs. SEC is further divided into five departments namely:
• Corporate Finance
• Investment Management
• Financial Innovation
• Trading and Markets
The primary existence of SEC is to curb unethical acts in the society in general. With the availability of protected whistleblowers by SEC, the world will gradually develop into a safe society for the citizens. SEC has continued to attract clients while the society reforms from conducting illegal businesses. Compared to the initial years before the creation of SEC, the whistleblowers are more confident. The number of reported successful cases has significantly risen too.
Learn more: http://www.secwhistlebloweradvocate.com/
There has not been a remarkable overhaul of U.S. financial regulation since the Great Depression until 2010 when congress ratified the Dodd-Frank Wall Street Reform and Consumer Protection act. Among many other significant reforms, the Dodd-Frank Act instituted a new whistleblower program; it provides crucial employment protections and financial incentives for people to report any federal securities violations to the Securities and Exchange Commission (SEC).
Labaton Sucharow Firm responded ardently to this historic legislation by becoming the first law firm in the United States to begin a practice dedicated exclusively to protecting and campaigning for SEC whistleblowers. Labaton is a proven market leader in securities litigation. They are reputable for having a top-notch team of financial analysts, forensic accountants, and investigators who are vastly experienced in federal and state law enforcement. This gives them an unmatched advantage to provide the best representation possible to SEC whistleblowers.
Jordan A. Thomas who is the former Assistant Director and Assistant Chief Litigation Counsel in the Division of Enforcement at the SEC is the man responsible for heading this practice. When at the SEC, he played a key role in the development of the Whistleblower Program as he was actively involved in drafting the proposed legislation and in the execution of the rules.
The Whistleblower Program requires that the SEC pay every entitled whistleblower a percentage of their total sanctions collected as incentives. It should be a 10-30% of the monetary sanctions collected as a result of a successful SEC enforcement action in the event the sanction exceeds $ 1 million. On meeting the threshold, whistleblowers may qualify for awards based on the sanctions collected in other related actions brought by other regulatory organizations.
The Frank-Dodd Act strictly prohibits employer retaliation against whistleblowers reporting to the SEC. In addition, with the representation of a lawyer, whistleblowers can report the feasible security violations anonymously. Initial consultations and case evaluations are usually free of charge and strictly confidential backed by attorney-client privilege. It is however encouraged to remain anonymous during the initial consultation and also not to provide any information that can personally identify potential violators. Translation services are also available for international whistleblowers.
About Labaton Sucharow Firm
Labaton is a Securities Litigation firm who lay claim to over 50 years in litigation services; they specialize in loss recovery, claiming corporate reforms on behalf of their clients, and also recovering billions on behalf of deceitful investors. They are an influential organization responsible for managing over $ 2 trillion in assets from all around the globe. Other services offered by the firm include lawsuits in corporate governance and shareholder rights, consumer protection law and antitrust.
Learn more about SEC Whistleblower Lawyers
If you have an upcoming court case, you know how difficult it will be for you to represent yourself when you are in front of the judge. This is why so many people have been making the decision to hire a professional so that they can work with them on a routine basis. A professional attorney is great for when you need to make sure that you get the compensation you need and a court case outcome that you require. This is a professional you can trust and who will do their very best to ensure that your case goes as smoothly as possible.
One such expert in this field is known as Ricardo Tosto de Oliveira Carvalho and he’s based in Brazil for those who are looking for a high-quality lawyer. His extensive experience and knowledge in the legal system allows him to be one of the top lawyers in the nation. This is why so many people have been making use of his services and are thrilled with what they are able to receive when contacting him. He will do his very best to ensure that you are satisfied with the results of your outcome and that you are getting everything you need from the type of court case that you are going to be having.
Ricardo Tosto de Oliveira Carvalho is one of the best attorneys in Brazil that you could possibly hire and they are a wonderful option for you if this is something that you were trying to figure out is right for you. He will be able to take your entire court case apart for you and do all of the necessary paperwork as well as represent you in the legal Court. If you are not able to get to the court on the day you need to appear, he will appear for you and get the case done. There is nothing wrong with working with a professional like this and they are one of the best out there because of the fact that they can work with you on any type of case you happen to have and get you the outcome that you need.