What is an SEC Whistleblower?
An SEC whistle blower is someone who calls attention to and puts a stop to illicit activities that are going on in the SEC. They are the ones that report problems in hopes that the people who are doing unfair things will be punished and fairness will be brought to the SEC. For this reason, the whistle blowers are protected from many different issues that could come about from reporting incidents within the SEC. The whistle blower program was designed to ensure that the people would be protected no matter what information that they brought forward.
Many of the people who are completing unfair practices are people who are high up within the SEC. They are the people who have the power to retaliate against employees and ones who could, possibly, fire them if there were issues with the performance. They could also fire them if they were doing something wrong and the person reported them for it. This is called retaliation and it is something that was rampant in the SEC. It was a major problem and something that the SEC whistle blower program worked to combat by promising to protect any person who wants to come forward with information.
Another reason that many people simply did not bring attention of the unfair practices to authorities is that they are actually being paid for not reporting the information. The people who are stealing money steal so much of it that they can afford to pay off the people who they want to be quiet about the dealings. The SEC whistle blower program helps to protect the people from having this happen to them. The program offers rewards that will make up, and often surpass, the money that they were getting for being quiet about the unfair dealings within the SEC.
While the program agrees to protect people, it is still wise that they have an attorney to represent them throughout the whistle blowing process. Labaton Sucharow is a law firm that works exclusively with people who wish to report issues within the SEC to the authorities. They will help the people with the exact process to report them and will be with them, representing them, each step of the way. They are a business firm that is dedicated only to SEC whistle blowers and they recently helped one win the second highest reward from the SEC whistle blower program.