SEC Whistleblowers get Help From Attorneys
The SEC is not an organization that should be taken lightly and is something that is very important to the economy’s balance. The commission is one that works hard to make sure that the right money goes to the right avenue but there are sometimes people who ruin the balance by stealing money from the commission and by making things more difficult. When they do this, they will often include other people so that they are not the only ones involved and will not be the only ones who get punished from doing this. They do it through coercion and bribery.
People who are stealing money from the SEC are often the people who stand in supervisory positions. Since they are in a position to do so, they are able to tell people that they will be punished if they do not do what they say and if they report the information to the authorities. This is wrong and it is called retaliation. There are many things that could happen as a result of this, but, in the past, it caused people to not want to report any negative information about their bosses even if they were doing something that was illegal.
Another way that these people could convince other employees not to blow the whistle on their practices is through bribery. They would tell them that they would give them a portion of the money that they made (stole) if they promised not to tell on them. This money was often a sum that employees truly couldn’t refuse and they chose to take it even though they knew that it was wrong. They continued to do this until the SEC finally decided to take a stand and stop it.
The SEC’s solution to this problem was the SEC whistle blower program. The SEC made sure that people would not be reprimanded and that they would receive an award for blowing the whistle on practices that were illegal or were against the values of the SEC. They wanted people to feel like they were in a safe place when they were reporting this to authorities.
Even though they are protected, they still need to have additional help. An SEC whistle blower attorney from Labaton Sucharow will help employees or former employees get what they need out of the whistle blower process. They will stand behind them each step of the way.