THE SECURITIES AND EXCHANGE COMMISSION WHISTLEBLOWER PROGRAM HAS REACHED ITS SECOND ANNIVERSARY.

It’s been two years since the Securities and Exchange Commission launched its whistleblower program. The whistleblower program’s main components include incentive structures for leakers, legal protection, and secrecy. The whistleblower program seems to be off to a strong start, according to securities and whistleblower lawyers. As per the new scheme, the first whistleblower prize recipient was an accountant who had worked for the Internal Revenue Service. She had the option to come forward and provide her identity, but the Frank-Dodd Act’s provisions allowed her to stay anonymous if she had so desired. She came out and helped stop a multimillion dollar scam. Securities and whistleblower lawyers claim that the whistleblower program’s safeguards have been crucial in encouraging persons with information about government misconduct to come forward. The Securities and Exchange Commission received more than 3,000 tips during the first year of the whistleblower program. It demonstrates the confidence whistleblowers have in their ability to come out. The Securities and Exchange Commission could only address tips pertaining to insider trading before the new whistleblower program. It is now possible to report any violation of securities laws to the Securities and Exchange Commission. Under the previous arrangement, incentives were limited to ten percent of the money that was found. As a consequence of their tips, whistleblowers might now get up to thirty percent of any recovery. Securities and whistleblower lawyers claim that the compensation scheme incentivizes those with knowledge of government misconduct to come forward. Whistleblower/false claims, consumer fraud class actions, banking and insurance fraud, consumer product liability, elder abuse, and personal injury cases are all handled by Evans Law Firm, Inc. Contact Evans Law Firm, Inc. at (415) 441-8669 for a free, private consultation if you believe you have seen or are a victim of financial fraud by an insurance company, bank, or person. You may also send an email to info@evanslaw.com.