The Dodd- Frank Wall Street Reform and Consumer Protection Act was a relief to many whistleblowers. The act brought with it a whistleblower program that was to facilitate exposure of violations of financial securities and also offer protection to any whistleblower that came out publicly. Whistleblowers normally report financial securities violations to the Securities and Exchange Commission.
As a result of this legislation in the year 2010, law firms started specializing and setting up departments that specifically dealt with the representation and protection of whistleblowers. The first law firm to venture into this field was Labaton Sucharow. The law firm set up a department that specifically dealt with the representation and protection of any whistleblower. The firm has a team of experienced individuals in the field of financial securities. It also has a team of investigators and forensic accountants and analysts who examine any reports of securities violation before taking up the representation of a whistleblower.
The firm is privileged to have one of the pioneers of the whistleblower program as head of the team. Jordan A. Thomas who is the firm’s team leader in this practice worked in the SEC as an Assistant Director and Chief Litigation Counsel in the SEC. He worked in the Division of Enforcement and thus has the necessary skill and expertise required to undertake this task.
This incentive under the program will encourage people to come out and report securities violations and thus protect the financial sector. Employers are forbidden from terminating and any employment contract or relationship they had with the whistleblower program. This protection afforded to whistleblowers allows them to continue safely with their lives.
The program also permits the report of securities violation anonymously. This is to be done through an attorney or a law firm. The SEC Whistleblower attorney takes its time to evaluate and examine securities violation. It comes up with ways and means of revealing securities violation and ensuring that no retaliation is meted on the whistleblower. They are quite selective in the cases they take to examine so as to make sure that they dedicate themselves entirely. The whistleblower program offers a perfect opportunity for ensuring the prosecution of securities fraud and also helps institutional investors recover money lost in the financial marketplace due to these scams.