Once the Protection Act of 2010 was enacted by Congress, it leveled the playing field between employees and employers concerning securities fraud in the workplace. Those employees who were being threatened they would lose their jobs if they reported such wrongdoings were now in the position to not only report their employers anonymously, they would be rewarded financially if the charges stuck.
With the full backing of the SEC, whistleblowers were now able to find safe harbor when reporting their employers fir committing fraud against the securities commission. The financial incentive not only made it easier for these employees to report fraud, it really began to put the pressure back on the employers who became fearful they would be exposed anonymously because of the huge rewards being offered.
Leading the charge in the efforts to bring these employers to justice and exonerate the employees who were being forced to keep things quite was the law firm of Labaton Sucharow. The decided that the Whistleblower Representation Practice was serious business, and they dedicated their services to bringing these employers to trial. The law firm committed unlimited resources by way of highly experienced forensic accountants, financial analysts, and seasoned investigators, who all worked as a team to provide employees a resource to safely report security fraud without the risk of losing their only source of income.
One of the reasons more employees found it easier to now come forward was the fact that according the whistleblower program, the SEC paid eligible employees who reported the fraud a whopping 10-30% of the money that was collected as a result of enforcing the actions that allowed the firm to collect $1 million or more. This reward could now provide financial security for those who have been fearfully living under the thumb of employers and having to be witness illegal activities daily.
The Dodd-Frank Act allows more employees to bring allegations of security fraud to light, while prohibiting retaliation by any employer against whistleblowers who filed these crimes with a lawyer or directly to the SEC. These employees were also afforded the chance to report completely anonymous. This now allowed them to work without suspicion by the employer that they were being investigated by the SEC.