The United States Congress enacted Dodd-Frank Street Reforms and Consumer Protection Act in 2010. The Dodd-Frank Act is a whistleblower program whose responsibility is to protect employees and offer financial incentives to people who report such violations to the Securities and Exchange Commission (SEC).
Qualities and Functions of SEC Whistleblower Attorney
The SEC whistleblower lawyers are professionals whose responsibility is to protect and advocate for the rights of SEC whistleblowers. Labaton Sucharow was the first Law establishment to establish the SEC whistleblower program. A good SEC whistleblower lawyer should work in line with several other experts to ensure a thorough investigation of violation at hand. They should include financial investigators, forensic investigators, and other related professionals to guarantee thorough research and whistleblower protection.
When choosing a whistleblower advocate, previous success of the individual should be preferred. A person who has previously succeeded in conducting a successful whistleblower program until the client gets compensated is preferred. People with extensive experience in their career are best suited for the job. The most experienced individuals have handled different types of violations including; bribery, accounting fraud, market manipulation, violation of autonomous auditor rules, insider trading and inadequate internal controls. The advocate should have worked with SEC for several years and have represented whistleblowers that have had all the wrongdoings stipulated by SEC.
Most importantly, whistleblowers are advised to ensure they hire a SEC lawyer if they want to remain anonymous and avoid job harassment, demotion, suspension, discrimination and getting fired. To ensure full protection, hire professionals who have a proven track of record and are listed among the greatest lawyers in the United States.
About SEC Whistle Blower Program
The Dodd-Frank Act program offers three major aspects. An important feature of the Act is the whistleblower rewards. The whistleblower should get a 10-30% of the monetary amount that the associated law firm and SEC gains as a result of the whistleblower tip. In identifying the whistleblower reward, several factors are considered as SEC postulate. The importance of the information, the assistance provided by the whistleblower attorney and the whistleblower and SECs programmatic interest are the major SEC considerations in rewarding.
Besides, the Act protects whistleblowers from being fired, demoted, suspended, threatened, harassed or discriminated. Those who are fired before reaching SEC can now get reinstated after the Us Court of Appeals included that clause. Additionally, whistleblowers are assured of confidentiality when reporting a fraud case. The law allows the whistleblower to remain anonymous until the time when SEC is ready to make the payments.