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.
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