The Securities Exchange Commission has made it clear that they are determined to stop fraud, corruption and general violations and are willing to go to great lengths to do so. In order to eliminate these actions, they have increased the likelihood that people will come forward when they become aware of such things, by blowing the whistle. These types of whistleblower cases tend to come from employees who have become aware of fraud or corruption by their employer, so the SEC has created a handful of protections that serve as a shield for employees who wish to come forward as a whistleblower.
The Dodd-Frank Wall Street Reform and Consumer Protection Act, which was enacted by congress six years ago, protects employees from employers and also provides some fairly hefty monetary incentives. In the end, if someone decides to blow the whistle and a violation is imposed on the company that the finger was pointed at, the whistleblower is awarded as much as thirty percent of the overall fine. The reason for this is the fact that the Securities Exchange Commission stands to make more money in the long run by detecting this type of fraud and corruption, rather than being unaware of what is going on and losing money as a result. The monetary amounts that have been awarded to whistleblowers has been steadily increasing and there have been quite a few multi-million dollar payouts.
This is particularly important to anyone who wants to come out as a whistleblower, as although there is a lot more protection for those people that want to come forward these days, the financial future for a whistleblower can still be murky. A big payout is a major incentive, but if you do want to come forward, make you you get yourself an SEC whistleblower attorney. There are plenty of law firms that focus solely on whistleblower cases and by hiring one of them as your lawyer, you will have a much better time going through the process and will likely get a bigger pay out in the end. Based on the fact that it is relatively new for attorneys to be taking on these types of cases as a specialization, those attorneys that have been taking similar cases for several years will have an easier time in court, merely based on experience. Because of this, the best course of action is to hire a reputable SEC whistleblower lawyer.