Wall Street was deregulated by the federal government before George W. Bush took office. It took the street a few years to figure out, but they found a way to make cash hand over fist by issuing something called a subprime mortgage. And by splitting up these mortgages into other financial products, they were able to hide the massive amount of toxic loans that they were taking on. And nobody was there to stop them as regulation had been reduced and any SEC whistleblower was intimidated.
The fallout from the global financial market crash was a law called Dodd Frank. This federal consumer protection act made it more difficult for large financial institutions to gamble with your money. But one of the most important provisions put into the federal law was the protections for whistleblowers. After all, whistleblowers could protect us from the next financial meltdown.
Whistleblowers are employees within a company that come across evidence of wrongdoing. These whistleblowers are either allowed to come forward without the risk of retaliation, or they are intimidated into not revealing their information. And if certain bankers had the whistleblower protections and incentives found in Dodd Frank, as well as a good SEC whistleblower attorney, the 2008 crash may have been averted altogether.
This sweeping Wall Street regulation makes it very clear that employers are not to intimidate or retaliate against any whistleblower who divulges information under the protection of Dodd Frank. The federal government even sweetened the pot for whistleblowers, promising financial incentives to those who provide sound information. This financial incentive is taken from any fines levied against the financial institution itself. A good SEC whistleblower lawyer can collect 10 to 30% of any fines collected as long as those fines are over $1 million.
Jordan A Thomas is a whistleblower attorney at the law firm of Labaton Sucharow, the first law firm in the United States to specialize in the protection and advocation of SEC whistleblowers. Jordan Thomas has tons of experience in the field, serving as the former Assistant Director and Assistant Chief Litigation Counsel in the Division of Enforcement at the SEC. He had a hand in passing the whistleblower protections in Dodd Frank and now he enforces them as a private lawyer. Mr Thomas is confident that he can recoup even more money for a whistleblower under his protection taken from other law enforcement organization’s fines. Contact him today for a case review.