The office of the whistle-blower is any agency that is set up to bring any illegal business that is happening to light. The term came up due to the referee’s job which is to blow his whistle in case any player commits a foul. Congress passed a new reform in 2010 in what was called the Dodd-Frank Wall Street Reform and Consumer Protection Act. These changes gave more protections and impetus to the whistle-blower to enable the office to serve its purpose.
After that landmark change, Labaton Sucharow became the first law firm in the country to set up a practice for enhancing whistle-blower protection. The company set down a team of qualified financial analysts, investigators, and forensic accountants. This team offers the SEC whistleblower lawyers possible. Most of the members of this practice are people with experience in law enforcement and are led by Jordan A. Thomas. Thomas has worked as an assistant director at SEC. He has always given his all in his duties and played a major part in the inception of the whistleblower program.
In the set down rules in the program, the SEC is expected to pay the whistleblowers 10-30% of any sanctions that are more than a million dollars. If the requirements are all met, the whistleblower may qualify for extra rewards according to money collected in activities related to the sanctions that were brought by other enforcement firms. The Consumer Protection Act warns any employer willing to go against the act by opposing the whistleblower who reports to the SEC. A whistleblower is allowed to make a case whenever a violation is brought up by the aid of a lawyer.
The SEC has a Whistleblower Program Handbook that serves the role of giving advice to would-be whistleblowers or have any interest in the field. Since the nature of laws governing securities keeps changing by the day, whistleblowers are advised to verse themselves well with federal statutes for securities. One should be able to determine fully whether or not an error has occurred before bringing it to light. Being able to accomplish such tasks is essential for anyone with dreams in this field.
In December 2011, a survey by Labaton Sucharow showed that almost 80% of Americans were ready to report wrongs at the workplace as long as it happens secretly. A few years later, another research showed that 89% would be willing to give information for some gains. Labaton Sucharow’s company has successfully blown the whistle on the main scandals and even the very powerful companies do no escape their web.