The Securities and Exchange Commission’s Plan for Safeguarding the Rights of Its Informants

The whistleblower protection program was created in 2010 by the Securities and Exchange Commission after the U.S Congress approved the Wall Street Reform of Dodd-Frank and the Consumer Protection Law. The plan is dedicated to safeguarding the rights of the SEC informants, and it was formed under the Dodd-Frank Act. According to the program, the source is entitled to a financial incentive from the commission and job security. This has significantly motivated employees of various companies to offer information on undertakings that do not follow the federal and state securities laws.

Various law firms in the United States have been formed to provide representation to the informants. The Labaton Sucharow law firm is among these organizations, and it was the first to create a whistleblower representation practice. The company has also been acknowledged for offering one of the best services to plaintiffs. It has currently established an unparalleled plan for filling securities litigations, and it also has a well-trained staff to support it. Labaton Sucharow’s employees include financial predictors, a distinguished in-house panel of investigators, and forensic experts who fully understand how state and federal laws are implemented.

Labaton Sucharow’s whistleblower plan is headed by Jordan A. Thomas. He is highly knowledgeable about the laws that protect the informants since he was part of the team that participated in their formation. Before joining the law firm, he worked for the Securities and Exchange Commission as a deputy director and a deputy chief litigation counselor of the organization’s enforcement unit.

The legislation of the whistleblower protection program state that any individual who volunteers .to give information to the SEC should be offered 10 to 30 percent of the fines that are collected by the commission. It also makes it illegal for any employer to harass an informant of the SEC. The regulations also demand that the whistleblower can be offered more money if other law enforcement bodies use the information that he or she provided to collect sanctions from the law breaker.

According to the SEC, the whistleblowers can hide their identity by hiring an attorney to represent them. They can also avoid providing their personal details such as names and addresses when reporting the cases to the Commission. The attorney-client privilege protects the information that is offered by the whistleblower to the SEC. The public can get more information about the program that protects the SEC informants by contacting the whistleblower representation team.