Dodd-Frank Awards, Protections Lure Whistleblowers to Come Forward

Dodd-Frank increases protections and awards available to financial whistleblowers.

2011-11-25

November 25, 2011 (Press-News.org) The massive Dodd-Frank Wall Street Reform and Consumer Protection Act, known as Dodd-Frank, brought sweeping reforms to the financial industry. In addition to the institution of new regulatory groups and consumer protections, the Act strengthened the protections granted to financial whistleblowers and created an award system for whistleblowers whose complaints lead to a successful investigation.

Law firms are currently experiencing an influx in whistleblower claims. Some firms attribute the increase in cases to the tougher protections and new awards established under Dodd-Frank. Armed with the protections and benefits that Dodd-Frank provides, employees are coming forward with claims that they might not otherwise feel empowered to initiate.

The Dodd-Frank Act provides enhanced anti-retaliation protections to workers who speak out against the illegal practices of their employers. Initially, workers are encouraged to file complaints using their company's internal compliance protocols. Dodd-Frank incentivizes workers to do so by offering a monetary award for complaints that result in successful violations reported through internal compliance processes.

Dodd-Frank also awards whistleblowers in the event that their complaint leads to successful investigations and violations by the SEC. If the SEC issues a violation against a company that exceeds $1 million, the whistleblower may be eligible for a monetary award of up to 30 percent of the fine that the SEC collects. If a whistleblower comes forward voluntarily, the award will be higher; if they interfere with the investigation, the SEC can decrease the amount of the award.

In short, if a whistleblower voluntarily steps forward, cooperates with an SEC investigation and his or her information helps uncover an actual violation, he or she is eligible for a monetary award of up to 30 percent of the fine. Additionally, all whistleblowers, regardless of the outcome of their complaint, are protected from worker retaliation under Dodd-Frank.

Employees who are considering blowing the whistle on their employers are advised to discuss their complaint with an experienced employment attorney to ensure that they follow the provisions of Dodd-Frank and are eligible for the protections from retaliation the Act provides. If you or a loved one suspects illegal activity at your company, please contact an experienced employment lawyer who can help you understand your rights as a potential whistleblower.

Article provided by Law Office of William M. Julien, P.A.
Visit us at www.attorneyjulien.com

ELSE PRESS RELEASES FROM THIS DATE:

Construction Workers and Electricians at High Risk of Asbestos Exposure

2011-11-25

Asbestos is a natural fiber that found use in many industrial and construction applications in the 20th century. However, when asbestos is swallowed or inhaled, it poses a very significant health risk -- including mesothelioma, lung cancer and asbestosis -- to humans. Mesothelioma is a rare cancer that develops after exposure to asbestos -- there are no other known causes of this cancer. The cancer occurs in the lining of many internal organs, but is most common in the linings of the lungs (pleural mesothelioma) and abdomen (peritoneal mesothelioma). Often, mesothelioma ...

Supreme Court Looks at Allowable Expenses for Bankruptcy Means Test

2011-11-25

Bankruptcy in Arizona, as in all states, is subject to a complex set of federal statutes as well as specific state laws that govern bankruptcy exemptions and other issues. Many people who are interested in bankruptcy as a debt relief option are aware that significant changes to the U.S. Bankruptcy Code took effect when Congress passed and President Bush signed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005. One important part of these changes was the introduction of a "means test" to determine eligibility for Chapter 7 bankruptcy ...

Illinois Motorcycle Accidents Must be Reduced

2011-11-25

Motorcycle safety is always important. Without the protection that drivers of other vehicles have, motorcycle riders are at a higher risk than motorists or truckers of being seriously injured or killed in crashes. Cars and trucks provide more protection than a motorcycle, because they are heavier, fully enclosed and generally have air bags. A motorcycle's smaller size also makes it more difficult for other drivers to see. In Illinois, a spike in motorcycle fatalities has provided a grim reminder of the need to improve road safety to prevent motorcycle accidents. This ...

New Study Illuminates Significant Discrepancy in Witness ID Procedures

2011-11-25

A recently published study by Iowa State University found that there are concrete differences between police witness identification procedures and that the utilization of select techniques may help reduce inaccurate suspect identifications without sacrificing correct identifications. Most Americans are familiar with typical police lineups: Individuals are paraded into a room and stand facing a one-way mirror, behind which an eyewitness identifies a potential suspect. In another method, witnesses are presented with a sheet of paper with several lineup photos and are asked ...

Calculating Damages in Missouri Employment Discrimination Lawsuits

2011-11-25

Job loss is a traumatic and confusing experience, no matter why it happens. However, the worst hurt comes when employees are fired not because of their job performance, but because they have been the victims of wrongful termination by their employers. The Missouri Human Rights Act prohibits employers from engaging in discrimination or harassment on the basis of race, color, religion, national origin, sex, disability or age. The prohibition extends not only to hiring and firing, but to all aspects of the employment relationship including recruitment, promotion, pay, retirement ...

Supreme Court Considers Religious Exception to Anti-Discrimination Laws

2011-11-25

The Supreme Court of the United States recently heard oral arguments in a case focused on the intersection of religious freedom and civil rights. A woman claiming she was prevented from continuing to teach at a religious school in violation of the Americans with Disabilities Act (ADA) is asking the court to clarify the scope of the "ministerial exception" to employment discrimination laws. Teacher Asked to Resign After Disability Leave The woman was a fourth-grade teacher at a school run by the Lutheran Church -- Missouri Synod where she taught secular and ...

Climate sensitivity to CO2 more limited than extreme projections

2011-11-25

CORVALLIS, Ore. – A new study suggests that the rate of global warming from doubling of atmospheric carbon dioxide may be less than the most dire estimates of some previous studies – and, in fact, may be less severe than projected by the Intergovernmental Panel on Climate Change report in 2007. Authors of the study, which was funded by the National Science Foundation and published online this week in the journal Science, say that global warming is real and that increases in atmospheric CO2 will have multiple serious impacts. However, the most Draconian projections of ...

Filing a Subsequent Chapter 7 or Chapter 13 Bankruptcy

2011-11-25

With our country still in the midst of the "Great Recession," it is becoming more common for people to find themselves in need of additional bankruptcy protection long after an initial filing. The highly publicized 2005 amendments to the United States' bankruptcy laws (known as the Bankruptcy Abuse Prevention and Consumer Protection Act or "BAPCPA") changed the way in which subsequent bankruptcy filings were handled in an attempt to prevent so-called "serial bankruptcies." It is still possible for an individual to seek a second or even third ...

A how-to guide to slashing California's greenhouse gas emissions by 2050

2011-11-25

What will a day in the life of a Californian be like in 40 years? If the state cuts its greenhouse gas emissions 80 percent below 1990 levels by 2050 — a target mandated by a state executive order — a person could wake up in a net-zero energy home, commute to work in a battery-powered car, work in an office with smart windows and solar panels, then return home and plug in her car to a carbon-free grid. Such is a future envisaged in a study published Nov. 24 by the journal Science that analyzes the infrastructure and technology changes needed to reach California's aggressive ...

Storm Season Is Here: Are You Properly Insured?

2011-11-25

Hurricane Irene hitting the East Coast was a reminder to the country that we are currently in the midst of storm season. With regard to hurricanes, the season in the Atlantic Ocean officially runs from June through November, with activity tending to peak around September. Hurricane Irene, arriving right on time, left a path of destruction from North Carolina all the way to New England. Tragically, at least 27 people's deaths have been attributed to Irene-related storm events. Some three million people were left without power, and the financial impact of the hurricane ...

BioCompNet: a deep learning workflow enabling automated body composition analysis toward precision management of cardiometabolic disorders

Nonlinear association between systemic immune-inflammation index and in-hospital mortality in critically ill patients with chronic obstructive pulmonary disease and atrial fibrillation: a cross-sectio

Fondazione Telethon announces CHMP positive opinion for Waskyra™, a gene therapy for the treatment of Wiskott-Aldrich syndrome (WAS)

[Press-News.org] Dodd-Frank Awards, Protections Lure Whistleblowers to Come Forward
Dodd-Frank increases protections and awards available to financial whistleblowers.

Dodd-Frank Awards, Protections Lure Whistleblowers to Come Forward

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: