Individual who have information about companies that do not follow the federal securities laws are currently encouraged to report to the Securities and Exchange Commission (SEC) since there is a program that protects their rights. The whistleblower protection program was formed in 2010 after the United States Congress approved two fundamental laws, which are the Consumer Protection Act and the Dodd-Frank Wall Street Reform. The protection that the regulations provide to the informant includes a job assurance and a financial reward. The whistleblower protection program was created under the mandate of the Dodd-Frank Act.
The enactment of the whistleblower protection laws led to the establishment of various law firms that primarily practice law that offers protection to the SEC informants and also advocate for their rights. Lebaton Sucharow is one of the principal law companies in the sector, and it is devoted to offering the best legal representation to the whistleblowers. The company has a competent litigation structure that comprises of a whistleblower representation practice that manages its internal investigators, financial forecasters, and analysts who are well experienced in the enforcement of local and federal securities laws.
The activities of Lebaton Sucharow are headed by Jordan A. Thomas who has ample information on then enforcement of the whistleblower protection law. He is a former deputy principal litigation counsel and assistant director of the SEC. One of his most significant involvements in the sector was participating in the formation of the whistleblower protection program when he was still an employee of the commission.
The protection package that is offered to the Sec informants includes job security and a monetary incentive. The law protects the whistleblower from being fired by their employer or any form of employee harassment. The financial reward that they are given is about 10 to 30 percent of the money that the Securities and Exchange Commission gains as fines from the offender. Informants are also entitled to a percentage of the money that other government agencies collect as sanctions that are imposed due to the information that they offered.
The commission urges the whistleblowers to be keen on concealing their identity when reporting cases by not providing their personal data such as names and addresses. They can also offer information through attorneys who serve as their representatives. The intelligence that is provided by an individual to the SEC is guarded by the attorney-client privilege. Anyone can file a complaint with the SEC, and the commission provides translators for non-English speaking foreigners.