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With more than a century of combined experience prosecuting some of the most complex securities frauds in history, our team possesses expansive knowledge on topics ranging from legal and regulatory frameworks, corporate governance and ethics, to auditing reform, in-house compliance systems and internal investigations. As a result, we are regularly called upon both to author and comment on sophisticated topics for major media and, as bloggers for our own audience, to examine top-of-mind issues with a fresh and substantive perspective.

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April 16, 2021
Departing Chief Says SEC Whistleblower Program Shows Value of Speaking Up
The Wall Street Journal
Jordan Thomas was quoted in an April 16, 2021 Wall Street Journal article about the departure of Jane Norberg, Esq. from her position as Chief of the SEC’s Office of the Whistleblower. It was announced on April 8 that she would be leaving, and the article states that “[h]er last day was Friday.” In an...
Articles & Perspectives
April 1, 2021
Dems may warm to principles-based rules
Regulatory Compliance Watch
Jordan Thomas’ recent lawsuit to protect whistleblowers is discussed in an April 1, 2021 article focused on the effects of politics in SEC rulemaking. The article, written by Bill Myers, says that Jordan’s lawsuit may be a “hard case [that] play[s] out in front of us” reflecting on whether Democrats will seek to repeal so-called...
Articles & Perspectives
March 29, 2021
The Rise of Whistleblower Lawsuits, Where Tipsters Make Millions
Business Insider
Jordan Thomas was tapped for his perspective about whistleblowers in a March 29, 2021 article by Samantha Lee on BusinessInsider.com. The article is not focused on any particular whistleblower program and discusses qui tam lawsuits under the False Claims Act as well as the relatively recently-developed programs of the IRS, SEC and CFTC. Jordan made...
Articles & Perspectives
February 17, 2021
Mortgage banker’s failed appeal sheds light on opaque SEC bounty process
Reuters
Jordan Thomas was quoted in a Reuters article by Alison Frankel published on Feb. 17, 2021. Along with another prominent whistleblower attorney, Jordan provided information concerning whistleblower appeals of SEC award determinations. He observed that litigated appeals are exceedingly rare, and that he had no awareness of such litigation ever being successful for a whistleblower....
Articles & Perspectives
January 31, 2021
Former SEC employee sues to halt whistleblower program changes
POLITICO Pro
Politico ran an article on January 13, 2021 by Kellie Mejdrich discussing an injunctive action brought by Jordan Thomas in the U.S. District Court, Washington D.C. against recent SEC rule changes. Jordan was quoted as describing the rule changes as illegal under the Administrative Procedure Act and “a major step backwards.” The article highlights Jordan’s...
Articles & Perspectives
January 14, 2021
Jay Clayton’s Legacy At Risk Because He Either Didn’t Read Or Didn’t Care About The Law
Dealbreaker
This Jan. 14, 2021 Dealbreaker article by Jon Shazar is highly critical of former SEC Chairman Jay Clayton and rule changes he spearheaded at the end of his tenure concerning whistleblower award determinations. Against that backdrop, the author highlighted the litigation brought by Jordan Thomas challenging the SEC’s statutory authority to make these rule changes....
Articles & Perspectives
January 12, 2021
Whistle-Blowing Soars to Record With Americans Working From Home
Bloomberg
On Jan. 12, 2021, Bloomberg ran a story by authors Matt Robinson and Ben Bain about a surge in whistleblowing tips received by the SEC since the outbreak of Covid-19 and the resulting widespread lockdown in the country. The number of tips received by the SEC in its last fiscal year, which included the beginning...
Articles & Perspectives
November 20, 2020
‘Whopper of a Factor’: Pandemic Fueled Incoming Tips, and Clients, Whistleblower Lawyers Say
The National Law Journal
A Jordan Thomas quote was used for the title of a Nov. 20, 2020 National Law Journal article by C. Ryan Barber, about how the COVID-19 pandemic led to an increase in the number of whistleblowers coming forward. Jordan’s “whopper” that he described was the vulnerability felt by employees in a time of major upheaval....
Articles & Perspectives
October 28, 2020
‘Hug Your Whistleblower,’ Former SEC Attorneys Advise
Law360
Law.com released an article by Dean Seal on Oct. 28, 2020 reporting on the Securities Enforcement Forum 2020, emphasizing a message that a panel including Jordan Thomas had imparted. As the title suggests, the message was that companies should be grateful and honor any whistleblowers who report wrongdoing on a company’s part. As set forth...
Articles & Perspectives
September 30, 2020
SEC approves ‘diluted’ proposed changes to whistleblower program
By Zack Fishman for Fastinform The U.S. Securities and Exchange Commission voted on Wednesday to update its whistleblower program, approving changes that were “diluted” from initial proposals to cap awards and tighten deadlines, a securities law expert said. The securities regulator has offered incentives to individuals who flag corporate fraud with a goal of protecting...
Articles & Perspectives
September 24, 2020
SEC Rule A Bittersweet Victory For Whistleblower Advocates
Law360
Jordan Thomas was quoted in a Sept. 24, 2020 Law360 article by Al Barbarino about new changes to the rules of the SEC whistleblower program. The article discussed the differing opinions and representations about the new rules, which are presented as a mixed bag. For whistleblower advocates, one supposed victory was that a proposed rule...
Articles & Perspectives
September 23, 2020
‘A Sleight of Hand’: Whistleblower Lawyers Recoil at SEC’s New Rules
The National Law Journal
The National Law Journal published an article on Sept. 23, 2020 by C. Ryan Barber including reactions of the private bar to new rules for the SEC whistleblower program. Jordan Thomas was consulted and his quotes used in anchor position. The article discusses the adoption of the new rules by a “party line” 3-2 vote,...
Articles & Perspectives
Featured
December 2, 2019
Understanding the Factors that Determine an SEC Whistleblower Award: Opportunities & Outcomes
Jordan A. Thomas As the SEC Whistleblower Program grows in awareness ($387 million in awards to date is pretty good advertising) more and more individuals explore the investor protection initiative that provides eligible whistleblowers monetary incentives and employment protections with the comfort of anonymous reporting. The program has been such an unmitigated success that between...
Articles & Perspectives
July 23, 2019
SEC Whistleblower Program Surpasses $2 Billion in Monetary Sanctions With Latest Whistleblower Award
The Securities and Exchange Commission (SEC) awarded a half-million dollars “to an overseas whistleblower whose expeditious reporting helped the Commission bring a successful enforcement action.” The Commission’s press release further reports that, with this and other recent enforcement actions brought as a result of tips from SEC whistleblowers, the SEC Whistleblower Program has yielded more than $2...
Articles & Perspectives
July 24, 2018
Private: Dashboard: Fast Facts from the ECI’s 2018 State of Ethics & Compliance in the Workplace
Corporate Whistleblower Watch
47% of employees said that within the last 12 months they observed conduct that either violated organizational standards or the law. 69% of employees reported the misconduct that they observed. 44% of employees who reported misconduct experienced retaliation, double the figure in 2013. 16% of employees experienced pressure to compromise standards 40% of employees believed...
Articles & Perspectives
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