The SEC Whistleblower Program has advanced its purpose and gone ahead to offer better rewards to SEC whistleblowers. Established in 2010, the program is working to see the complete elimination of violations in the business world. Many companies before the introduction of the program would treat their customers and workers in a manner that is not in line with the securities laws set by the federal government.
In a bid to help whistleblowers share information without fear, the SEC Whistleblower Program is offering additional protection like the ability to report anonymously and protection against bullying or sacking by employers. Additionally, the reward system put in place is further motivating whistleblowers to march forward with facts about securities violations.
The most recent case that went into the history books of the body involves a reward amounting to more than $17 million, which went to a client that was sponsored by Labaton Sucharow, a leading law firm in the country. The whistleblower shared high quality information that has exposed the wrong doings that have been going on in the financial services industry. This was a bold move that few would attempt since those involved in the case are high profile professionals.
Labaton Sucharow was part of the parties that joined in the celebrations following the announcement of the issuance of the reward since their client was listed as the second highest rewarded whistleblower by the SEC since inception. Labaton Sucharow invested a lot of time into the case and honed every detail to perfection to ensure the information presented is relevant and reveals all the truths that would make it possible for the SEC to conclude their inspection.
The company is happy to know that most of the clients who have received rewards from the SEC cooperated through the whole process and showed courage despite some cases touching prominent leaders in different industries.
The Securities Exchange Commission Whistleblower Program
The SEC Whistleblower Program has increased effectiveness in the fight against securities violations and this has been possible through careful consideration and pursuit of all cases presented by whistleblowers. They have also increased the protection offered to whistleblowers not forgetting they are now allowing international reporting where anyone with information can submit facts regardless of their location across the world. These provisions and protections have eased the process of reporting and have attracted many people with details about securities violations to expose wrong doings in different industries.