The SEC guarantees that the whistle blowers will be protected if they make the choice to make a report against the things that go on in the SEC that are illegal. They protect them in that they will not allow the commission or anyone who is a part of it to retaliate against them when they are working together. They want to make sure that people feel confident that they are going to be protected while they are working with the SEC and that they are comfortable with reporting unfair practices to authorities without the worry of retaliation looming over top of them.
Another way that the SEC is able to help people who want to blow the whistle on the unfair practices is that they provide a reward for anyone who reports unfair practices. They want to make sure that the people do not miss out on any money and that they are not left wanting for anything. For that reason, they promise that they will have a lot of information when it comes to providing help for the people who are reporting the information. They like to reward people who make the choice to do the right thing when they are members of the SEC.
While the SEC is still able to protect people from the problems that they have within the SEC, there still needs to be some level of protection outside of the SEC. This is where an attorney comes in. When a whistle blower decides to make a report to the SEC, he or she should always have attorney representation to ensure that they are getting the right deal out of the entire thing. The attorney will represent them and will help them in the event that there are any issues with the report.
At Labaton Sucharow, the attorneys make sure that they can help their clients with every step of the process. They want them to be comfortable making the report and they do so through the way that they help their clients. They are experts at all things relating to the SEC and they can make sure that their clients were going to get the right reward. While the SEC protects the clients on some level, having an attorney is an even better way that clients should be able to protect themselves from all of the things that happen during the reporting process.
The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act has gone a long way in reining in on shady players within the financial services industry. This legislation mainly focuses on providing various levels of protection to individuals who report possible financial desecrations to the Securities and Exchange Commission. The legislation similarly paved way to the institution of whistleblower protection programs, which shield informants from any form of retaliation.
Labaton Sucharow was applauded for being the first legal practice to set up a whistleblower protection program. This division solely focuses on ensuring that the well-being of whistleblowers is guaranteed. The firm’s whistleblower program has largely been built on the success that its litigation programs have had. Labaton Sucharow ensured that the program is well staffed. It boasts the service of financial experts, forensic accountants and private investigators. The expertise of these professionals goes a long way in helping the firm to unravel the truth behind the disclosures that are made by its clients.
This is the core objective of every Labaton Sucharow SEC whistleblower lawyer. The firm ensures that clients who report violations to the SEC through it, are offered air-tight protection against any form of retaliation from those who are named in the reports. Insiders are often willing to come forward and report violations. However, many fear being subjected to retaliatory actions. To guarantee the safety of informants, Labaton Sucharow has put in place measures that enable them to secretly report violations without having their identities disclosed.
Whenever a disclosure is made, the SEC often makes a follow-up to determine whether violations were committed or not. Since the Dodd Frank Consumer Protection Act was enacted, more informants have made reports to the SEC because their safety is guaranteed. This has paved way for a major cleanup of the financial services industry. The program has been hugely successful. Informants no longer have to worry about their personal safety and that of their families when they report irregularities.
The SEC offers financial rewards to whistleblowers whose disclosure leads to a productive enforcement action. According to the act, whistleblowers qualify for a reward of ten to twenty percent of all monies that are recovered as a result of an enforcement action. Labaton Sucharow’s team of qualified legal experts often vouch for maximum rewards for clients. Recently, a client represented by a Labaton Sucharow SEC whistleblower attorney was awarded 17 million dollars. This represents one of the largest rewards to have ever been made by the SEC. It proves how dedicated the firm is to its clients.