The Security and Exchange Commission of the United States has found a solution to encourage a great number of company employees to come out of hiding and testify in front of the court concerning any financial violation committed by high-ranking professionals that they know of – the SEC Whistleblower Program.
The platform has been brought upon by the passing of a bill in the US Congress called the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the Dodd-Frank Act in simpler terms. This legislation was created specifically by lawmakers in order to arouse the confidence of all the individuals who have the capability to divulge scandalous truths – along with hard-hitting evidences – about the financial fraud that high-profile executives in the corporation they were or are working for.
Benefits of Turning Up as a Whistleblower for the SEC
The Dodd-Frank Act offers a real assurance to the informer that their life, as well as their family’s, will not be put in the danger, as it is common knowledge that people often prefer to keep the anomalies they are aware of to themselves in fear of feeling the wrath of the powerful and influential people they will go against. Thus, there are certain compensations that someone who commits to the SEC Whistleblower Program can avail.
1) Gain the trust of the government.
Relators are extremely valued by the government because the number of economic violators who have not been penalized for their crimes are far too great. As they courageously come forward with everything they know about the inconsistencies that they have noticed in the company, they gain the confidence of the servers of justice.
2) Have an SEC Whistleblower lawyer represent the person in court.
Due to the delicateness of the situation, an informer has the option to not appear in person during the court proceedings with the intention of concealing their identity to all the parties involved. The program therefore recognizes this matter and assigns a competent SEC Whistleblower attorney who can relay the sworn statement of the informant and all of the physical documents that are deemed valuable for the case.
3) Obtain monetary reward once the case clears up.
The time that the informer has spent without a source of income as they wait for the result of the trial can be well-compensated after the government gets back the money looted by the law offenders. This can range from 10 to 30 percent of the actual amount returned.