How the Dodd-Frank Act Protects and Empowers Whistleblowers

In response to the 2008 financial crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Dodd-Frank instituted wide-ranging financial reforms impacting almost every aspect of the financial industry, including incentives and protections for whistleblowers. If you suspect your employer is engaging in fraud or other unlawful financial behaviors covered by Dodd-Frank, confidentially contact experienced federal whistleblower attorney Peter Katz today.

Offering Financial Incentives

The financial incentives offered to whistleblowers under Dodd-Frank are not nominal. Most enforcement actions under this law involve high-level financial fraud, resulting in multi-million-dollar federal enforcement actions. Voluntary and original whistleblowers, including individuals or groups of employees, can be entitled to substantial monetary compensation if their information leads to a successful enforcement action and financial recovery.

Under Section 922 of the Dodd-Frank Act, whistleblowers may receive (individually or collectively) not less than 10% and not more than 30% of the total monetary sanctions imposed. If the government imposes a $10,000,000 sanction on an employer for violating Dodd-Frank, the original whistleblower could receive up to $3,000,000. Because the percentage of this award varies, you should hire a dedicated whistleblower attorney to represent your interests during federal regulatory proceedings.

Protecting Whistleblowers Against Retaliation

The Dodd-Frank Act also contains an anti-retaliation provision to protect your job if you report potential violations to the government or testify. Under the Act’s anti-retaliation provision, an employer may not take any of the following actions against you if you blow the whistle or provide evidence:

• Discharge
• Suspend
• Threaten
• Harass
• Demote
• Discriminate against

You may be entitled to reinstatement, back pay, and all legal fees if your employer retaliated against you for engaging in lawful acts under Dodd-Frank. A dedicated anti-retaliation lawyer can help you obtain these damages and protect you against workplace whistleblower discrimination. He can also represent you at your jury trial and fight to protect you if you return to work.

You can also have additional employment discrimination and harassment claims if your employer indirectly retaliated against you, increasing your potential damages.

Permitting Anonymous Reporting

Importantly, you may still receive a financial award for whistleblowing while remaining anonymous. Dodd-Frank requires, however, that legal counsel represent any anonymous whistleblowers seeking financial compensation. Your lawyer can stand in for you at court, request the monetary award, and disclose only the personal information necessary to obtain payment. This adds an extra layer of protection to employees who fear retaliation, but it does require the help of an experienced Dodd-Frank whistleblower attorney.

Contact a Dedicated Federal Whistleblower Protection Lawyer

Dodd-Frank offers robust legal protections and incentives to financial whistleblowers in New York and New Jersey. If you have questions about your whistleblower rights or reporting unlawful activities to the SEC, you need an experienced whistleblower protection attorney from the Law Offices of Peter Katz. Confidentially discuss your rights with his financial whistleblower team today by calling (609) 849-3179 or connecting with them online.