Established under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC Whistleblower Program is a powerful new tool that financial regulators and law enforcement authorities have to detect, investigate and prosecute corporate wrongdoing. With its significant employment protections, monetary awards and anonymous reporting, the SEC’s innovative program is also an important vehicle for everyday citizens to take a stand and speak out against misconduct.
But do people know about the program? The answer is not enough.
In December 2011, as part of our Ethics & Action survey, we found that only 32% of Americans were aware of the SEC Whistleblower Program. In our recent survey of the financial services industry, Wall Street, Fleet Street and Main Street: Corporate Integrity at a Crossroads, only 44% of respondents were aware of this critical investor protection initiative.
To increase public awareness of the SEC Whistleblower Program, we have launched an SEC Whistleblower Eligibility Calculator. This first-of-its-kind web-based tool helps potential whistleblowers understand the in’s and out’s of the program. The easy-to-use calculator presents users with various questions, which then lead to a customized and detailed eligibility report. The assessment also provides numerous links to the rules, regulations and other helpful resources.
Electing to blow the whistle is an incredibly difficult personal and professional decision. By providing a confidential mechanism for prospective SEC whistleblowers to learn more about the program on their own time and in their own space, we hope to empower individuals to make informed decisions.
Could You Blow the Whistle? Labaton Sucharow’s SEC Whistleblower Eligibility Calculator
Jordan Thomas - Monday, July 30, 2012
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Website Editor &
SEC Whistleblower Advocate
Jordan A. Thomas
jthomas@labaton.com
212-907-0836
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