A Review Of SEC Whistleblower Program And How Labaton Sucharow Helps Whistleblowers
The federal government has been working to ensure that wrong doings in different industries are addressed in the most justifiable manner. One of the measures that was taken to enhance the fight against securities violations is coming up with the SEC Whistleblower Program, a system that works with whistleblowers to help them present facts highlighting the wrong doings that have been happening in different industries.
Since the program was launched in 2010, many whistleblowers have presented facts before the SEC. The body reported an increase in number of whistleblowers from 2010 onwards and this trend can be attributed to several factors among them the availability of an exceptional protection package that ensures whistleblowers are shielded from external interference while handling vital information that carries the potential to expose highly influential individuals in specific sectors.
The anonymous reporting capability that came with the program allows the whistleblower to report without risking exposing his/her identity to all and sundry. The program works with individuals who are highly trained to offer services that help whistleblowers to conceal their identities. Additionally, the SEC Whistleblower Program offers rewards to those who share high quality information. The reward is usually calculated as 10 – 30 percent of the total money paid by the perpetrator as sanction and depending on the quality of information shared.
As much as 400 million has been paid to whistleblowers since the program began and SEC confirmed that they have more to offer and are willing to pay even millions to put to an end the vices that occur in the business world.
While SEC established a unique service to work with whistleblowers, there was also need to have a body that can educate whistleblowers about the laws used in the program. Few whistleblowers have the skills to understand complex sections of law that are used while examining cases, so law firms like Labaton Sucharow come in with the needed support to make the process easy. With a SEC Whistleblower attorney in place, the whistleblower is able to handle the case seamlessly.
There is a SEC Whistleblower lawyer who is specially trained to handle investigation and to verify the facts presented by the whistleblower. It is a crime to share misleading information or information that does not offer facts about the matter being addressed. That is why the SEC Whistleblower Program works with highly trained lawyers who verify the details presented by whistleblowers to detect any flaws.