Dodd-Frank Whistleblower

The Dodd-Frank Reform Act Of 2010

One of the most unique laws to come out of any presidential office happened on July 21, 2010. The existing president of the United States signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. This legislation covers a rather wide range of topics that would address the causes of the financial crash of 2008 and 2009 that was one of the most devastating actions to ever happen to the financial markets of this country. It’s one of the best reforms that target those whistleblowers who could not decide without fear of retribution, between the truth or the lies.

Whistleblower Incentives And Protection!

The Dodd-Frank Act whistleblower programs provided an expansion of the original protection Act of 2002. The new Act of 2010 offers a cause of action for employees performing tasks that are or would be related to consumer financial products or services. Basically, it targeted and provided motivation for those employees or non-employees who have inside knowledge, to come forth and assist the government to identify and bring to justice persons who have violated any type of securities laws; ergo, recovering money for victims of financial fraud.

Note: The Dodd-Frank Act does provide monetary incentives for whistleblowers to assert their rights by reporting commodities and securities fraud violations. Awards can be paid to one or more whistleblowers who voluntarily provided the government original information that leads to a successful enforcement of said law. Not less than 10 percent or more than 30 percent in total of the collections is normal.

To learn more about dodd frank whistleblower visit us at SECWhistleblowerCenter.org.

Dodd-Frank Whistleblower

In case you were not familiar with the Dodd-Frank Reform and Consumer Protection Act it’s a federal statute in this country signed into law back in July of 2010. Many were opposed to this law because it affects nearly all facets of the financial services industry.

False Claims Act Violations!

Any person thinking of proposing fraud against the government of the United States should give it a second thought; most don’t. Simply said, fraud is a serious and widespread problem and anyone with a dab of common sense, should remember that you never know who’s looking over your shoulder to report that fraud. The False Claims act calls them “whistleblowers.” This act was enacted primarily to combat fraud. Medicare and/or Medicaid along with other healthcare programs are the usual recipients of fraud.

The Dodd-Frank Act! (Whistleblower Provisions)

In July of 2010 this particular act established new provisions, modeled after some of the provisions of the False Claims Act. It was to facilitate incentives and protection for “whistleblowers” who voluntarily offer information to the Securities Exchange Commission (SEC) that leads to the successful prosecution or violations of the law. One of the main targets being to protect taxpayers by ending bailouts and discouraging large corporations from paying monolithic compensations to executives.

Special Note: The Dodd-Frank Act offers significant incentives and compensation to those providing information regarding violations. Also, whistleblowers are now allowed to initially report any and all fraud anonymously by filing a claim through a licensed attorney. Additionally, this law prohibits all employers from retaliating or threatening the whistleblower.

To learn more about dodd frank whistleblower visit us at the SECWhistleblowerCenter.org.

Whistleblower Reward

It’s like finding money in the street! Talking about whistleblower awards, folks. And there are four different whistleblower programs that you can take advantage of that pay “big bucks.”

Punishment Or Rewards!

Questions:

* Are your company’s executives cheating shareholders via bogus accounting?

* Do you know any business that’s cheating the government via double-billing or over-charging?

* Have you discovered illegal activity of any kind where you work?

* Because you had the guts to be a “whistleblower” are you being punished by being fired?

The fact is you shouldn’t be punished for doing the right thing! And for nearly two centuries, Congress has offered certain whistleblowers both monetary rewards and legal protection. And the good news is these reward incentives to report wrongdoing have been expanded.

The Rules For Receiving A Monetary Reward!

Lately the Internal Revenue Service (IRS) may pay awards to those people who can provide credible information to the IRS. And if that information results in the collection of taxes, penalties, or other amounts from the noncompliant taxpayer, the whistleblower may see some of those green pieces of paper with the picture of dead presidents come their way. Just keep in mind that your submission cannot be just a “guess” or “unsupported documentation” it has to be factual.

The IRS Awards!

If the IRS collection exceeds two million the whistleblower(s) receive from 15 percent up to 30 percent of the amount. If the IRS case deals with a person(s) not a company, the annual gross must exceed $200,000. The False Claims Act is your best friend.

To learn more about whistleblower reward visit us at SEC Whistleblower Center.

SEC Whistleblower Program

The program

The Securities and Exchange Commission whistleblower program, offers rewards and protection to people who report on federal securities law violations. It was formed just after the stock market crash that took place in 1929 and its primary aim is to restore public confidence, by ensuring that the securities market is efficient and fair.

Rewards and protection.

Sec. offers rewards to persons, who comes forward with information regarding federal securities violations. Anyone who successfully reports on violations, which then lead to cash penalties on the offenders that exceed ten million dollars, are liable to get 10-30 percent. In addition, the programs protects the informer from any possible retaliatory attacks that may be directed their way.

Cases where the law applies

The law not only apply to those corporations that deal with the issuance of securities, but also to the dealers and brokers, investment advisers and the securities exchanges themselves. All these people, involved and working in this market, are expected by law to treat clients fairly, disclose all the necessary information and also avoid fraud.

Security laws involved

The security laws, that form the basis on which the Securities and Exchange Commission regulates the trade, are mostly anchored on six statutes. These include: The Securities Act of 1933, The Securities Exchange Act of 1934, The Trust Indenture Act of 1939, The Investment Company Act of 1940 and The Investment Advisers Act of 1940. These Acts deal with the regulation of the issuance and marketing of securities, disclosure of relevant information and regulate investment companies and investment advisers.

To better understand more sec whistleblower program visit us at SEC Whistleblower Center.

Information on Become a Whistleblower

There are many ways you can do to become a whistleblower. There are many sites you can go to regarding this topic. It also explains on what you should or be aware of first when you decide to be a whistleblower.

It does take a lot of risks and courage to take in this responsibility. So you really have to know what you are getting into first. There are tips and guidelines you should follow and see if you have the capability of taking in such responsibility.

You will definitely gain a lot from the business your in, but it is very risky to get into such thing. So you have to be prepared to take in all the challenges that you might face if you choose to attempt such action to a company or organization you happen to be a part of.

You will definitely receive a handsome reward in return. You have to make sure what to expect and you have to know how to execute it right. So it will definitely take a lot of planning and preparation when it comes to doing something like this.

There is a lot of risks that are involve and you need be able to handle it right. You are taking a risk in closing down an organization or getting someone fired for something he or she did wrong. At the same time you will be doing something right in return.

If you know in your conscience that what their doing is wrong and it is against the law it is your responsibility to do something about it. There is nothing wrong with doing the right thing. You surely do not want to be part of that wrong doing.

To learn more, read on at Become a whistleblower here.

The Uniqueness of SEC Whistleblower

The SEC Whistleblower program is especially known for offering financial rewards to anyone who reports any possible violations of the SEC (Securities and Exchange Commission) code. It is a result of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was passed on July 21, 2010 by President Obama. The primary mission of the SEC is to help maintain reasonable, methodical and well-organized markets. By doing so, they also help to protect investors and insider capital information.

When original information about a corporate fraud is reported to the program and the evidence checks out, the person who reported it may receive up to 30% of the settlement amount. However, that amount depends on numerous factors. The program covers violations of federal securities, commodity exchanges and consumer protection. The person who gives the report should have sufficient evidence ready before making the report official with the sec whistleblower program.

It is also not advisable for the person doing the whistleblowing to work without a specializing attorney. Working with an attorney helps that person to better understand what makes for the fraud and how to blow the whistle anonymously. They can also help the whistleblower receive the maximum compensation that he or she deserves, especially if he or she was found out by his or her company and lost his or her job as a result. They ensure that the whistleblower’s name is not disclosed to the SEC unless the case has been successful and the whistleblower is offered the monetary reward. The attorneys receive a portion of the reward as well.

SEC Whistleblower Program

The Securities and Exchange Commission is a federal agency that protects investors from fraud, maintains marketplace integrity and facilitates capital formation. The SEC requires public companies to disclose all relevant financial information to the public. The agency brings hundreds of civil enforcement actions against individuals and companies each year.

The sec whistleblower program gives cash rewards to people who provide information about corporate and securities fraud. Their goals are to eliminate illegal conduct on Wall Street and promote better corporate compliance with federal securities law. Details about the filing process are below.

Type of Information- only original information is acceptable. This means the alleged fraud data must be original to the SEC. The whistleblower should never embellish the facts and should not give opinions. The whistleblower should set forth how he/she came to learn the facts and what their role or relationship is to the company. The incentive is a cash reward.

Anonymous Filing- the Frank Dodd Whistleblower Law allows a person to file an anonymous complaint. An attorney files the paperwork and his/her expertise may help to increase the amount of the cash award. After the Whistleblower receives the money, his/her name must be disclosed to the public.

The Dodd Frank Whistleblower Law gives the SEC discretion to award from 10 percent to 30 percent of any funds recovered as cash compensation to a SEC whistleblower. A SEC whistleblower lawyer should offer a free initial consultation. There are several whistleblower laws and after an attorney explains the process to you and vets all of your information you can work together to file a claim.

Is it Possible to Appeal a Whistleblower Reward?

When an employee turns in his workplace to the federal government due to illegal activity, he is usually referred to as a whistleblower. As such, if the company or governmental entity he works for is found guilty of wrongdoing, the person who turned them in can be awarded a whistleblower reward.

If, however, the reward is much smaller than the person expected, they often want to know if it is possible to appeal a whistleblower reward, and thus have the chance of being awarded more.

In some circumstances, yes, it is. It is, however, dependent on several factors.

Is the reward between the normal percentages?

The US government awards a whistleblower between 10% and 30% of the money they manage to recoup due to illegal activity on the part of the company you turned in.

If what they awarded you is between those percentages, there is not usually a right of appeal. A whistleblower lawyer, however, can advise you about this.

Have you been turned down for a whistleblower reward?

If you were the person who gave the government the information they needed, and you have still been turned down for a reward, in some circumstances you can appeal.

This does, however, usually need to be done within 30 days of the reward being denied.

It also helps if you have a lawyer that is handling your case, as he will be more aggressive in his dealings with the government than you can be. He will also know how the law is applied, and if you have been an unwitting victim yourself.

That is why, if you want to appeal a whistleblower reward and do not have a lawyer, getting one before your appeal could just be the way to go.

Why Take Part in the SEC Whistleblower Program

The SEC Whistleblower Program was implemented to put a stop to corporate bullies draining the system of funds. These criminals can quickly make a substantial amount of money by dealing in insider trading deals. The end result is that all the investors must pick up the tab by paying higher maintenance fees. That has a serious impact on the profits of the portfolio, so the SEC stepped in and created this unique program. Now the ones who are raiding the system have more eyes on them anxious to enjoy the benefits of turning in these crooks.

The Benefit for All

Each time someone takes advantage of the SEC Whistleblower Program, everyone benefits from the maintenance fees staying as they are. Rather than having to pay for the crooks who are walking away with millions of stolen dollars, the money is put back in the system and those who report the concern are generously rewarded. With so many people eager to enjoy the rewards, the crooks have to be especially careful as to how they conduct business.

The Reward Money

The reason that the sec whistleblower program is so successful is because of the huge reward given if the criminal is prosecuted. In many cases, a 10% cash reward is provided to those responsible for turning the information over to the SEC. This can be a huge amount of reward money when you are dealing with criminals who pocket millions in stolen funding. Now the people who have been abused have the chance to turn the tables on those who abuse the power.

Dodd Frank Whistleblower

One of the SEC programs that protects whistleblowers is the Dodd Frank act. It i one of the things that has been put into place to protect those who have gotten in trouble because of actions they have taken to expose waste, fraud, corruption or abuse by their employers. These are the things that individuals can take advantage of when they are looking to find the options to protect them from the negative repercussions of their whistle blowing.

Dodd Frank Act of 2010

The Dodd Frank Act was signed into fruition in 2010 as mentioned, to protect members of the Securities and Exchange Commission who informed on their various organizations and violated the Security and Exchanges act. It also established a tip line to reward individuals who were able to give tips on violations of the SEC act. It is designed to protect informants.

Slow to award damages

Many people have put in claims under the dodd frank whistleblower act but individuals who have tried to get compensation under the act have been frustrated as to the circumstances and bureaucratic of the act. It is long process to complete although in Fy 2012-2013, over 3,000 whistleblower tips and complaints were received only one award was issued and one application was rejected.

Individuals need to go through a 3 step process in order to receive awards. Phase 1 is an intake triage phase. Phase 2 consists of tracking, and phase 3 will update whistleblowers about the status of their application, and review claims for awards. Even though compensation from 10 to 30 percent can be issued as of 2014 only 9 awards had been given to individuals.