In 2011, the corporate world faced a huge shock – the Securities and Exchange Commission was ordered to create a program by Congress to allow anonymous reporting of securities violations and protection for those who reported misconduct, also known as “whistleblowing.” Whistleblowers no longer had to fear employer retaliation for reporting misconduct and securities violations to the Securities and Exchange Commission. Employees ranging from the bottom of the corporate structure up to the top have been able to anonymously report employer misconduct to the Securities Exchange Commission because of the protections provided by law. Since then, companies have had a harder time of getting away with securities violations, thanks to these whistleblowers.
Unfortunately, employers still try to prevent whistleblowing action by creating clauses and confidentiality agreements within employment contracts that forbid an employee from whistleblowing. In the last months, there have been enhancements to whistleblower protection laws. There have been an increased amount of awards, more opportunities for awards, and a lower standard in determining whistleblowing action. Hopefully with these changes, even more whistleblowers will come forth and report misconduct to the Securities and Exchange Commission. Even so, changes and clarification of current Securities and Exchange Commission laws and rules protecting whistleblowers still need to be made to further protect whistleblowers. Without whistleblowers, employers will have free reign to commit securities violations without fear of repercussion.
The Evans Law Firm, Inc. handles whistleblower actions, false claim lawsuits, employment and retaliation litigation, SEC securities fraud whistleblower reward lawsuits, and IRS tax fraud lawsuits. In addition, Evans Law Firm, Inc. also handles banking fraud, insurance fraud, consumer fraud class actions, personal injuries, and physical and financial elder abuse. If you think you or someone you know has been a victim of any of the above, contact the Evans Law Firm, Inc. for a confidential and free consultation at 415-441-8669 or by email at firstname.lastname@example.org