David Callahan, the co-founder and Senior Fellow of the public policy group Demos, penned an informative blog post on the SEC’s latest arsenal in combating securities violations, the new Whistleblower provisions. The posts include two surveys whose findings demonstrate the huge potential of the new laws. There has been a positive and proactive response to the Whistleblower program, such as companies building internal mechanisms to protect and encourage whistleblowers. Also, Labaton Sucharow’s Whistleblower Representation Practice, which I proudly chair, is specially mentioned as one of the firms bringing the talents of private practitioners to represent corporate whistleblowers.
But more is still to be done. Educating the American public about the protection mechanisms built into the SEC Whistleblower program is still necessary and is one of the main reasons for the creation of the SEC Whistleblower Advocate online resource. It remains a tricky and complex terrain, but we are clearing the path, one step at a time.