The SEC appreciated the intelligence since it helped it to discover the fraudulent businesses that were being carried out by one of the top companies in the finance sector. The identity of the whistleblower has never been reviled since he was represented by an attorney at the SEC. The commission concealed most of the intelligence that they received so as to avoid disclosing any information about their informant since it will cause employee harassment. Jordan A. Thomas who has been leading the Labaton Sucharow’s whistleblower representation service believes that is it right for anyone with useful information on companies that break security laws to inform the SEC. He is one of the company’s senior attorneys and has sufficient knowledge of the securities sector because he worked for the SEC.
Regulations of the Commission indicate that about a third of the penalties that the SEC imposes on the offenders should be given to the source of information. Other government agencies that use the intelligence to enforce the law and collect penalties should also offer a certain percentage of money to the whistleblowers. The rules also protect the careers of the witnesses, and the job security law is supplemented by the Dodd-Frank Act, which has banned companies from mistreating whistleblowers.
The SEC has been working to ensure that the public and company employees are motivated to inform it on any undertakings that defy the state and federal securities laws. His has been by the protection that it has been offering and through the Investor Protection Fund, which has $400 million for awarding the whistleblowers. The fund was formed by the Congress and it is often replenished.