Dodd-Frank’s Best Provision — SEC Whistleblower Protections

Wall Street regulation and reform is a big deal during presidential election years. Each of the candidates chimes in with a different opinion on the subject. And whether or not the you believe that Wall Street should be regulated, I think we can all agree that whistleblowers protect us from financial meltdowns.

Who would know better than an employee of a giant financial Corporation as to whether or not certain activities are unethical or illegal? These are the people that serve as our first line of defense, and sometimes our only line of defense, against massive fraud and institutionalized corruption.

But where do these SEC whistleblowers turn when may unearth unethical or illegal activity? It is difficult for them to go to their bosses as the illegal activity may be institutional. They may also fear retaliation and the loss of their employment. These whistleblowers, which are so integral to our economy, have in an unenviable conversation with themselves. Do they do the right thing and risk their economic livelihood and perhaps their career? Or do they sit on the information and hope it all works out while keeping their job?

The federal government passed a sweeping regulation of Wall Street in 2010 known as the Dodd Frank act. The federal government’s hope was to incentivize whistleblowers by offering them stiff protections and alluring them with money. One of the provisions in Dodd Frank guarantees any whistleblower who presents information under the Dodd Frank act a 10% to 30% cut of any fines levied against their financial institution. These fines have to exceed $1 million in order for this incentive to kick in. That’s quite a lot a bit of money.

But there is a law firm named Labaton Sucharow that would like to extend its protection to any SEC whistleblower coming forward. And they have really stepped up their game in protecting and advocating for these whistleblowers. The head of the law firm, Jordan A Thomas, used to work at the SEC in the division of enforcement. In fact, he played a leadership role in the development of the whistleblower program found in Dodd Frank. He is the SEC whistleblower lawyer that you dream of.

The man hires a massive in-house team that includes investigators, analysts and accountants that are capable of working with law enforcement. It is the SEC whistleblower attorney dream team. If you are having a difficult conversation with yourself, you should contact them in order to receive a case review.