Dodd-Frank Whistleblower Attorney
Do You Have Information About a Dodd-Frank Violation? Speak with a Federal Whistleblower Attorney in Confidence
The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) imposes wide-ranging requirements and prohibitions on securities and commodities firms and financial institutions in the United States. It also provides protections to whistleblowers who come forward with information about statutory violations. If you have information about a violation of the Dodd-Frank Act—or if you believe that you may have information about a violation—you should speak with a Dodd-Frank whistleblower lawyer promptly.
We represent Dodd-Frank whistleblowers nationwide. The Dodd-Frank Act is a highly complex statute, and violations can take many different forms. There has also been a significant amount of debate over whether certain provisions of Dodd-Frank (i.e., the Volcker Rule) serve their intended purpose. However, these are not excuses for non-compliance. Firms and financial institutions must strictly comply with the Dodd-Frank Act; and, when they fail to do so, it is important that whistleblowers come forward.
Blowing the Whistle Under the Dodd-Frank Act
Both the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC) accept whistleblower complaints under the Dodd-Frank Act. Whistleblowers must ensure that they contact the correct federal agency based on the information they need to disclose, and they must ensure that they meet all pertinent requirements to secure protection under Dodd-Frank’s whistleblower provisions. At Oberheiden P.C., we guide whistleblowers through the process step-by-step, and our whistleblower lawyers work with the SEC and CFTC on behalf of our clients to help ensure that their complaints lead to accountability.
The Dodd-Frank Act’s whistleblower provisions are unique in many respects. Under Dodd-Frank, whistleblowers can come forward and receive protection in circumstances not covered under the False Claims Act and other federal whistleblower statutes. However, Dodd-Frank has some unique limitations as well. For example:
- Public Information – Under the False Claims Act and other federal whistleblower statutes, whistleblowers must come forward with material non-public information (MNPI). However, the Dodd-Frank Act provides protection to those who come forward with MNPI as well as those who present information about statutory violations compiled from public sources.
- First–to-Report – While other federal whistleblower statutes only provide protection to the first individual to report a violation, the Dodd-Frank Act does not. Under Dodd-Frank, all individuals who report a violation are potentially eligible to receive protection (and financial compensation) as a whistleblower—though certain restrictions apply.
- Qui Tam – One of the key facets of the False Claims Act is its qui tam provision, which allows whistleblowers to pursue litigation on behalf of the federal government. However, the Dodd-Frank Act does not have a qui tam provision. As a result, it is essential to work with an experienced Dodd-Frank whistleblower attorney who can help you convince the SEC or CFTC that enforcement action is warranted.
We are intimately familiar with the Dodd-Frank Act’s whistleblower protections and requirements. Our lawyers can determine if the information you have in your possession qualifies for whistleblower protection; and, if it does, we can assist you with coming forward. We will work with the SEC or CFTC to protect your identity throughout the process; and, if you become eligible for whistleblower compensation, we can assist with securing your award as well.
When Can You Secure Protection as a Dodd-Frank Whistleblower?
The Dodd-Frank Act is broad by design. Enacted in the wake of the 2007-2008 financial crisis, it imposed sweeping reform throughout the U.S. financial system. Today, it continues to play a key role in protecting investors and banking customers, and compliance continues to be a key concern for securities and commodities firms and financial institutions.
While some firms and institutions have implemented comprehensive Dodd-Frank compliance programs, violations are not uncommon. Whether due to oversights, an inadequate commitment to compliance, or intentional wrongdoing, violations can present substantial risks for investors and banking customers. As a result, whistleblowers play a critical role in ensuring fairness and transparency in the U.S. financial markets—and, if you have information about a potential violation, coming forward is indisputably the right thing to do.
Some examples of common violations of the Dodd-Frank Act include:
- Corporate Accounting Violations – The Dodd-Frank Act is one of several federal statutes that imposes corporate accounting requirements and controls. Corporate accounting violations, both intentional and inadvertent, can lead to inaccurate disclosures that harm investors and banking customers.
- Excessive Fees and Commissions – Excessive fees and commissions were partially to blame for the subprime mortgage crisis that precipitated the Dodd-Frank Act, and they remain a prevalent concern today. Charging and failing to disclose excessive fees and commissions are both violations that whistleblowers can (and should) report to the SEC or CFTC.
- False and Misleading Public Filings – Investors rely on publicly available information to make sound investment decisions. This includes issuers’ public filings. If an issuer’s filings are false or misleading, this can leave investors facing substantial losses that they stand virtually no hope of recovering through market forces.
- Financial Stability Violations – The Dodd-Frank Act established financial stability requirements for major financial firms and institutions. Failure to meet these requirements can not only put investors and banking customers at risk, but it can potentially threaten the entire U.S. financial market.
- Insider Trading – Insider trading violates the Dodd-Frank Act as well as a variety of other federal securities laws and regulations. This is another violation that can cause substantial harm to investors—and that potential whistleblowers should strongly consider reporting promptly.
- Investment Fraud Scams – From Ponzi schemes to skimming, churning, and other fraudulent practices, all types of investment fraud scams perpetrated by brokers at commodities and securities firms can leave investors facing substantial losses.
- Market Manipulation – Practices designed to manipulate the market for commodities or securities are blatant violations of the Dodd-Frank Act. They present substantial risks for investor losses and market instability, and they require prompt rectification.
- Promotion Scams – Promoting fraudulent investment scams and offerings with unreasonably high risk also violates the Dodd-Frank Act and other federal securities statutes. Once again, it is essential that investors and banking customers are able to rely on the disclosures they receive to make informed decisions.
- Proprietary Trading – The Volcker Rule under the Dodd-Frank Act prohibits proprietary trading by financial institutions. If you are aware of prohibited proprietary trading, it is important that you speak with a Dodd-Frank whistleblower lawyer promptly.
- Unauthorized Trading – The Dodd-Frank Act (among other federal statutes and regulations) prohibits unauthorized trading on customers’ accounts. When firms and institutions trade their customers’ assets without customers’ consent, this can lead to catastrophic losses.
When you contact Oberheiden P.C., we will arrange for you to speak with a Dodd-Frank whistleblower attorney in strict confidence. Your attorney will examine the information you have in your possession and help you make an informed decision about coming forward. You are under no obligation to do so, and it costs nothing to make an informed decision about blowing the whistle.
FAQs: Working with a Dodd-Frank Whistleblower Attorney
How Do I Know if I Qualify as a Dodd-Frank Whistleblower?
While the Dodd-Frank Act provides strong protections for whistleblowers, it is important to make sure you qualify for these protections before you come forward. A Dodd-Frank whistleblower attorney at Oberheiden P.C. can determine if the information you have in your possession will qualify you for whistleblower protection should you choose to contact the SEC or CFTC.
Can I Be Fired if I Blow the Whistle Under the Dodd-Frank Act?
Your employer cannot legally terminate your employment based on your decision to serve as a Dodd-Frank whistleblower. Additionally, as a whistleblower, you are entitled to anonymity—so it is unlikely that your employer will be able to identify you as the whistleblower as long as you take adequate steps to protect your identity.
How Do I File a Dodd-Frank Whistleblower Complaint?
Filing a Dodd-Frank whistleblower complaint involves contacting either the SEC or CFTC, depending on the information you have to disclose. However, before you disclose any information to the SEC or CFTC, it is critical to ensure that you qualify for whistleblower protection.
What Will the SEC or CFTC Do with the Information I Provide?
Once you file a whistleblower complaint, the SEC or CFTC will examine the information you provide to determine whether an investigation is warranted. Special agents may request additional information from you as well. Following this inquiry, the SEC or CFTC will decide whether to pursue a civil or criminal enforcement action for a violation of federal law.
How Can a Dodd-Frank Whistleblower Attorney Help?
A Dodd-Frank whistleblower attorney can assist you with all aspects of disclosing a statutory violation to the federal government. This includes everything from determining whether you qualify as a whistleblower to communicating with SEC or CFTC agents and attorneys on your behalf. Your attorney can also assist with protecting your identity and securing a whistleblower compensation award, if warranted.
Schedule a Confidential Consultation with a Dodd-Frank Whistleblower Attorney at Oberheiden P.C.
If you need to know more about blowing the whistle under the Dodd-Frank Act, we encourage you to contact us for a confidential consultation. To speak with an experienced Dodd-Frank whistleblower attorney at Oberheiden P.C., please call 888-680-1745 or tell us how we can contact you online today.