The Dodd- Frank Wall Street Reform and Consumer Protection Act was enacted in 2010. The act is considered to be the most comprehensive renovation in the United States financials regulation since the Great Depression. The Dodd-Frank reforms have made various achievements in its efforts to make changes in the United States, but the most significant improvements it made was the whistleblower program. The program offers employment protection as well as financial enticements for those individuals who would wish to report possible financial frauds to the Security and Exchange Commission (SEC).
Labaton Sucharow was the first law firm to provide Whistle Blower services for the purpose of their protection as well as advocating for SEC Whistleblower. The whistleblower upon reporting any financial fraud is paid an amount of about 10-30% of the money collected from a successful enforcement of the action if the corruption was exceeding $ 1million. In the case where the threshold is met the whistleblower can be paid an additional amount. The Dodd-Fran k Act also protects the employee from being sacked by their employers after reporting corruption in their organization. An employee can also report a fraud case anonymously if their attorneys represent them.
SEC Whistleblower Attorney is there to assist a whistleblower when they have already collected information about suspected corruption issues. The attorney takes the information and does their investigations to represent a proper report to the Security Exchange Commission on behave of the whistleblower. Once the claims are filed by the lawyer to the Security Exchange Commission, the layer should always be present to answer to the corruption charges on behave of the whistleblower whom should remain anonymous. The lawyer has the mandate of making sure the whistleblower has been paid his dues after the case has gone through. The attorney is only paid the percentage of the whistleblower’s amount.
SEC whistleblower lawyer should provide free initial consultation to listen to the corruption story of the whistleblower. The attorney has the responsibility of informing the whistleblower the rules and the regulations they have to follow while reporting any corruption dealings. After the whistleblower has known what is require of them, the lawyer goes ahead to file the case in different government agencies. The Attorneys are also supposed to help the whistleblowers file their payments to the required government agencies to help them maximize their payment. The lawyers should always stand by the whistleblowers until the end of the corruption case.