Important facts about the Sec Whistleblower Program

The SEC Whistleblower Program was started in the year 2010, and it served as a relief to the individuals who wanted to expose the wrongdoings in the financial services industry. The program has increased the number of whistleblowers in the country because of the protection it gives to these individuals. The program encourages more people to speak out by offering special packages as a token of appreciation for the work they do for SEC and the nation too.

Because of the introduction of the new laws and policies by the SEC Whistleblower Program when reporting fraud and any other cases in the financial services, more serious cases have been exposed, and punitive measures on the offenders have been taken. However, some individuals do not understand the process of reporting securities fraud to the authorities. Here are some of the important factors everyone should know.

Who is a whistleblower?
Many people in the United States do not understand what this term means in the SEC Program. Many are also not aware of the individuals who are allowed to blow the whistle. The Dodd-Frank Consumer Protection Act enacted the roles and responsibilities of a whistleblower. Before, the roles of the whistleblower were limited, and a few individuals in the society could have their concerns considered. This is changed significantly in the recent past because crucial information about the perpetrators in the securities is available to many people. If the information is found to be factual, it can be forwarded to SEC, and the individual responsible is not exposed. There are no particular limitation about the people who qualify to report because there are no boundaries.

What type of violations are forwarded to the SEC?
Any type of violations concerning the securities law should be forwarded to SEC for considerations. Many individuals in the society associate the SEC with services dealing with the finance department, but the body decided to expand this mandate to cover other important areas in business such as public and private institutions.

There are different cases presented to SEC for consideration. Some of these include the misrepresentation and omission of important information, stealing from consumers, market prices manipulation, selling unregistered securities and even offering bribes. If the whistleblower provides factual information and the parties involved are proved to be on the wrong side, then they are given serious punishments.

SEC whistleblower lawyers are required to represent the whistleblowers in the cases, and they ensure that the clients are not known to the republic. Jordan Thomas is one of the SEC whistleblower attorneys, and he has done a lot to make sure that his clients get justice.