In 2010, significant amendments occurred in the United States’ finance sector. This transformation was facilitated by the Congress when it approved Dodd-Frank Wall Street Reform and the Consumer Protection Act. These legislations were the only ones that had been passed since the Great Depression. The Dodd-Frank Act gave the Securities and Exchange Commission power to create a protection program for any individual who gives it helpful intelligence on organizations that do not abide by the laws that govern securities. The SEC whistleblower protection program demands that the informants should be appreciated by being guaranteed job security and a monetary motivation.
Law firms in the United States created programs that are dedicated to offering representation to the whistleblowers after the passing of the protection plan. Labaton Sucharow spearheaded the formation of the whistleblower practice, and its services have currently grown to be the best in the industry. The company has dedicated itself to plaintiff representation, and it currently has an outstanding program for filling lawsuits. It has also hired professionals who are well informed on the U.S securities regulations, and they include financial predictors, internal investigator, and forensic specialists
Labaton Sucharow has hired Jordan A. Thomas as the head of its whistleblower representation services. He is an experienced attorney, and he formerly served in the enforcement department of the SEC as a deputy principal litigation counsel and as an assistant director of the commission. During his term of service at the SEC, Mr. Thomas was involved in the creation and the enforcement of the whistleblower protection program.
The laws that have been set by the SEC’s plan state that the commission should give the whistleblowers at least 10-30 percent of the money that it receives as penalties due to the evidence that they offered. The organization is also obligated to ensure that its informants have job security. The Dodd-Frank Act prevents employers from pursuing the SEC whistleblowers.
The Securities and Exchange Commission ensures that everyone can consult it at any time, and therefore, it does not charge any fees. It also allows foreigners to report cases and has been proving translators to assist individuals who cannot speak English. Whistleblowers who would like to disclose information without revealing their identity can use the representation of an attorney. Those who visit the SEC’s offices are advised to withhold their personal data such as names and address to avoid revealing their identity to the public.