The federal government still has very relaxed regulations over Wall Street. In 2010, Congress signed the Dodd Frank act which gives the federal government a little bit of regulation over Wall Street in order to prevent another financial meltdown. But the greatest provisions in the Dodd Frank act is the protections for SEC whistleblowers.
Any employee inside a public financial institution may come forward to expose criminal activity within their own institution. The Dodd Frank act protects these whistleblowers that go to the Securities and Exchange Commission.
The best route for any SEC whistleblower is through a SEC whistleblower attorney. Labaton Sucharow LLP was the first law firm to specialize in SEC whistleblower protection and application just after the passage of Dodd Frank. The law firm went out of its way to hire Jordan A Thomas to leave the SEC whistleblower wing of the law firm.
Labaton Sucharow LLP pride Mr. Thomas away from the Securities and Exchange commission itself. The SEC whistleblower lawyer was a higher up in the enforcement division of the SEC. The man helped create the Dodd Frank SEC whistleblower protections and is the country’s foremost leader in SEC whistleblower protections under the act.
So it is no surprise to hear that Labaton Sucharow LLP recently secured the second highest SEC whistleblower payout in history. Any whistleblower that comes forward under the protection of the Dodd Frank act is entitled to a percentage of the fines collected by the government from the whistleblowers former financial institution. Mr. Thomas secured an anonymous SEC whistleblower $17 million in a recent case.
And Mr. Thomas thinks this is just the beginning. As more whistleblowers understand that they can come forward anonymously under the protection of Labaton Sucharow LLP and that they can receive substantial financial incentives, Mr. Thomas believes that more whistleblowers will come forward. And this is the best way for the financial industry to regulate itself. After all, an employee of a public financial institution would be in the best position to understand any criminal activity within that institution.
And the financial incentives are real. Congress has even kept an investor protection fund which exceeds $400 million for SEC whistleblower payouts.