An ABA Journal article titled SEC Is Giving Whistle-Blower Protection One Last Lick quotes Jason Zuckerman extensively about the Dodd-Frank Act’s whistleblower provisions, which authorize the SEC to provide monetary rewards to individuals with fresh information about financial wrongdoing at public companies, investment banks, broker-dealers or other organizations involved in transactions affecting the public markets. The article states in part:
“After the Bernard Madoff scandal broke the SEC had a lot of egg on its face,” says Jason Zuckerman, principal of the Employment Law Group, a Washington, D.C.-based firm that represents whistle-blowers. “It’s clear that they need to do more to be responsive to the allegations they get and to encourage employees to report corporate fraud,” says Zuckerman, who co-chairs the Whistleblower Subcommittee of the American Bar Association’s Labor and Employment Section’s Employee Rights and Responsibilities Committee.
The article also discusses proposals by the business community to require whistleblowers to exhaust internal compliance procedures prior to disclosing fraud to the SEC.
Zuckerman pointed out that whistle-blower programs with robust monetary rewards have proven successful, citing the False Claims Act, whose provisions were strengthened in 1986. “There is tremendous empirical evidence that it works,” Zuckerman says, citing large settlements against companies such as Pfizer and Eli Lilly. “If companies are so concerned about employees blowing the whistle directly to the SEC, then they should enhance their compliance programs to address employee concerns more effectively.”
Tips to Successfully Navigate the SEC Whistleblower Process
Experienced and Effective SEC Whistleblower Lawyers
The firm has a licensed Certified Public Accountant and Certified Fraud Examiner on staff to enhance its ability to investigate and disclose complex financial fraud to the SEC. Firm Principal Jason Zuckerman has been named by Washingtonian Magazine as a “Top Whistleblower Lawyer” and the firm has been ranked by U.S. News as a Tier 1 Firm in Labor & Employment Litigation.
Whistleblower law firm Zuckerman Law has substantial experience investigating securities fraud schemes and preparing effective submissions to the SEC concerning a wide range of federal securities violations, including:
- Accounting fraud;
- Investment and securities fraud;
- EB-5 investment fraud;
- Manipulation of a security’s price or volume;
- Fraudulent securities offerings and Ponzi schemes;
- Unregistered securities offerings;
- Investment adviser fraud;
- False or misleading statements about a company or investment;
- Inadequate internal controls; and
- Violations of auditor independence rules.
For more information about the SEC Whistleblower Program, see the following resources:
Zuckerman Law SEC Whistleblower Reward Program FAQ
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