Dodd-Frank Whistleblower Rewards Attorney
The Dodd-Frank Act was passed in the wake of the 2008 market crash to impose a number of rules and regulations on publicly traded businesses. Under the law, individuals who report fraud and other misconduct can claim a substantial reward for blowing the whistle. This program is essential to both prosecuting illegal activity and protecting the integrity of financial markets.
However, it takes more than simply reporting misconduct to receive a reward. Understanding the government’s rules and retaining an experienced whistleblower attorney can help maximize the amount of compensation you receive. You can also take advantage of various anti-retaliation protections and pursue legal action against employers that violate them. Connect with Oberheiden P.C. to get started.
Actions That Fall Under the Dodd-Frank Act
The Dodd-Frank Act is not necessarily a household name, but most Americans are familiar with the activities that it covers. After the 2008 crash, it became clear just how devastating financial fraud can be to the economy and to families. The Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) was created to prohibit and prevent such abuses as:
- Corporate accounting violations
- Failure to make accurate financial disclosures
- False and misleading public filings
- Charging excessive commissions and fees
- Market manipulation
- Insider trading
- Banking and finance stability irregularities
- Scams, Ponzi schemes, and the like
- Unauthorized trading
- Proprietary trading
Some of the businesses covered under the law include banks and financial institutions, investment firms, mortgage lenders, insurance companies, and credit rating agencies.
The SEC whistleblower office was created in response to the Dodd Frank Act, and if you have evidence that organizations have engaged in the above activities, you may be able to claim a whistleblower reward based on monetary sanctions collected by the federal government for exposing them.
Put our highly experienced team on your side
Dr. Nick Oberheiden
Founder
Attorney-at-Law
Lynette S. Byrd
Former DOJ Trial Attorney
Partner
Brian J. Kuester
Former U.S. Attorney
Hon. Kevin McCarthy
55th Speaker, U.S. House of Representatives (ret.)
Government Consultant
Mike Pompeo
Of Counsel
Former U.S. Secretary of State
John W. Sellers
Former Senior DOJ Trial Attorney
Linda Julin McNamara
Federal Appeals Attorney
Nicholas B. Johnson
Former Prosecutor
Roger Bach
Former Special Agent (DOJ)
Chris J. Quick
Former Special Agent (FBI & IRS-CI)
Michael S. Koslow
Former Supervisory Special Agent (DOD-OIG)
Ray Yuen
Former Supervisory Special Agent (FBI)
How Do I Claim a Whistleblower Reward?
Having evidence of financial wrongdoing is a start, but it takes much more before a potential whistleblower can ask for a reward. To begin with, the evidence must lead to the government (typically the Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC)) to successfully pursue an enforcement action against the offending party. If the government is able to recover in excess of $1 million thanks to the information provided, the whistleblower can request a reward of 10% to 30% of the amount recovered.
The whistleblower must provide the government with what is known as original information, which is defined as information that is:
- Derived from the whistleblower’s independent knowledge
- Not already known to the government from another source
- Not exclusively derived from one of these sources: a statement or claim made in a judicial or administrative hearing; a government investigation, report, or audit; or the news media, unless the whistleblower is a source
Put simply, the whistleblower’s information should be unique and generally not known by someone else. Also, the whistleblower should be the first to report the information to ensure it qualifies as original. If you believe the evidence you have fits these requirements, reach out to our legal team.
Whistleblower Protections Against Retaliation
Anyone with information about violations of the Dodd-Frank Act can become a whistleblower. However, before doing so, you should speak with an attorney to ensure you can avail yourself of the various whistleblower protections. One of the key protections prevents employers from retaliating against those who submit whistleblower claims to alert the government about illegal activity. This means that an employer cannot terminate, demote, withhold pay, bonuses, or promotions, or take other negative employment actions against you because of your status as a whistleblower. If you encounter such treatment, our law firm can take legal action to seek damages.
What Is the Process For Becoming a Whistleblower?
A whistleblower does not have to be an employee of a company that falls under the jurisdiction of the Dodd-Frank Act. If you have evidence of wrongdoing you can submit appropriate forms and documentation to one of the agencies responsible for enforcing the Dodd-Frank Act. It is preferable, but not necessary, to have physical evidence such as documents or communications that verify your claim.
Once the SEC or CFTC receives your information, agents will review what you have provided and determine if there is sufficient cause to open a civil or criminal investigation. The government may also reach out to request more information or conduct an interview with you. This is another reason to retain an attorney, who can prepare you for the interview and assist with communications between you and the government’s lawyers.
Reasons to Hire an Attorney First
The information you have may help put an end to fraudulent activity, but it’s important to speak with a lawyer familiar with the whistleblower program before speaking with the government. A seasoned Dodd-Frank whistleblower rewards attorney can help with:
- Evaluating the evidence you have to determine if it meets the government’s requirements for original information
- Submitting all paperwork and evidence to the government
- Handling follow-up communications with the government
- Advising you of all whistleblower protections and rights
- Taking legal action against anyone who illegally retaliates against you
- Protecting your confidentiality
- Negotiating for the highest possible reward so you are fairly compensated for becoming a whistleblower
Contact Our Dodd-Frank Whistleblower Rewards Attorney
At Oberheiden P.C., we understand it can be daunting to step forward with evidence that an employer or other company is violating the Dodd-Frank Act. That’s why we handle Dodd Frank whistleblower rewards cases with the respect they deserve while also working to protect the rights and rewards to which whistleblowers are entitled. Let us confidentially review your case, advise you of your options, and handle all aspects of your whistleblower matter. Call us today – or use our online contact form – to get started.
