When the United States Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, not many people had an idea about the impacts that it would have. The Act has greatly helped to transform the financial services industry. It paved way for the creation of a whistleblower program. This program provides financial rewards and employment protections to individuals who report wrongdoings to the Securities and Exchange Commission.
Labaton Sucharow prides itself for being the first legal firm in the US to set up a whistleblower program. The division is under the leadership of Jordan A. Thomas, who is a former high-ranking official of the SEC. The division brings together experienced legal practitioners, financial analysts, and investigators. This guarantees competent representation to whistleblowers. The SEC whistleblower program allows anonymous reporting. It similarly shields whistleblowers from any form of retaliation.
More often than less, those who raise alarm about violations are people who work within an organization. Whistleblowing is a difficult decision professionally. Those who report misdoings might start getting intimidated or threatened by their bosses. The Dodd-Frank Wall Street Reform and Consumer Protection Act totally bars employers from sacking, demoting, intimidating or threatening employees to report violations to the SEC. This is applicable whether the report made leads to an enforcement action or not. Labaton Sucharow guarantees the employment rights of its clients who decide to report financial misdemeanors to the SEC.
It takes a lot of courage to blow the whistle on corrupt dealings. Not many people are willing to have their identities revealed. Labaton Sucharow’s whistleblower program has provisions for anonymous reporting. This protects whistleblowers from negative sanctions from the society. Normally, those who make reports are often seen to be opposed to group ideals. Most members of the society believe that reporting negates long-established social values such as loyalty and team work. To shield whistleblowers from social ridicule and any resultant stigma, the program allows anonymous reporting.
In this case, informants can anonymously make reports to the SEC. Labaton Sucharow’s lawyers often make submissions on behalf of clients who do not wish to have their identities made public. Nevertheless, a whistleblower’s identity has to be substantiated. Besides this, the identity has to be disclosed to the SEC if the report made leads to a successful action. This disclosure often comes into play in the event that there are monetary rewards. Labaton Sucharow offers world-class representation, which ensures that its clients are recompensed maximally.