Whistleblower Protection Under the Procedures of the Securities and Exchange Commission

Stockbroker Law - Thursday, April 11, 2013
Whistleblower Protection Under the Procedures of the Securities and Exchange Commission

Professionals employed in the Financial Services Industry have led many initiatives in restoring transparency and honesty to the financial markets, thanks to protections afforded by the SEC’s recently-enacted whistleblower protection procedures.  Investment and financial professionals faced with the stressful situation of reporting securities law violations and other wrongdoing are afforded job protection, as well as financial remedies and damages, in the event of an adverse reaction on the part of their employers against whom they have reported wrongdoing.

 

The whistleblower reporting requirements include the filing of a TCR form with the whistleblower unit of the Securities and Exchange Commission in Washington DC.  Other additional approaches which can be pursued simultaneously include reporting notices of wrongdoing to the various respective regional offices of the Securities and Exchange Commission and the United States Department of Justice, including disclosures to the various United States Attorney’s Offices in the various and several United States District Courts throughout the United States.

 

The enhancements of the recently-enacted whistleblower provisions include 2 x back pay with interest, employment position preservation, legal fees, and expense reimbursement, as well as monetary awards ranging from 10-30% of monetary sanctions collected by the SEC against firms determined to have engaged in wrongdoing.

 

We offer a free consultation to financial professionals who feel that their employment positions and associated compensation have been harmed as a result of their involvement with the reporting of wrongdoing in the financial markets.

 

The Law Offices of Timothy J. O’Connor is one of the only law firms practicing securities law in the Tri-City Capital District of Albany, Schenectady and Troy.  We also represent victimized investors throughout the rest of New York State, including Buffalo, Binghamton, Syracuse, Watertown, Utica, Kingston, New York City/Manhattan, Long Island, and everywhere in between, as well as in the surrounding states of Massachusetts, Vermont, New Hampshire, Connecticut, and New Jersey.


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