INTRODUCTION TO THE Foreign Corrupt Practices Act If you are considering blowing the whistle, call Nashville whistleblower attorney Timothy L. Miles today
The Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act of 2010 both include provisions that impact individuals who expose Foreign Corrupt Practices Act (FCPA) violations. Sarbanes-Oxley specifically forbids companies from retaliating against whistleblowers and offers protection to employees who face retaliation for reporting potential securities law violations. These employees have the right to file a complaint with the Department of Labor and may be eligible for reinstatement, back pay, and other forms of compensation. Additionally, Sarbanes-Oxley prohibits any form of retaliation against employee whistleblowers under the obstruction of justice statute.
Dodd-Frank Act adds whistleblower incentives and protections
In 2010, the Dodd-Frank Act introduced Section 21F to the Exchange Act, focusing on the provision of incentives and safeguards for whistleblowers. Section 21F grants the U.S. Securities and Exchange Commission (SEC) the authority to offer financial rewards to eligible individuals who voluntarily disclose high-quality, original information that leads to enforcement actions resulting in sanctions amounting to over $1,000,000. The Commission grants awards equal to no less than 10 percent and no more than 30 percent of the collected monetary sanctions. Additionally, the Dodd-Frank Act prohibits employers from retaliating against whistleblowers and establishes a legal recourse for employees who experience retaliation. Additionally, retaliation against a whistleblower could also violate state, local, and foreign laws that have enacted laws for the protection of whistleblowers.
THe sec whistleblower program implementsw its final rules
The SEC's Whistleblower Program implemented its final rules on August 12, 2011. These rules outline the criteria for whistleblowers to be eligible for an award, the factors that the SEC will consider when determining the award amount, and the individuals who are excluded from consideration for an award. The rules also establish limitations on award considerations for certain individuals. These final rules aim to enhance incentives for employees to report suspected violations through internal compliance programs, although reporting internally is not mandatory to qualify for an award.
If you have any knowledge regarding a potential breach of the federal securities laws, such as violations of the FCPA, it is encouraged that you provide this information to the SEC. There are two options for submitting the information: you can do so online through the SEC's Tips, Complaints, and Referrals (TCR) system and complaint form, which can be found at https://www.sec.gov/tcr, or you can send a completed Form TCR to the Commission's Office of the Whistleblower via mail or fax. Whistleblowers can submit information anonymously
Whistleblowers have the option to anonymously provide information. However, in order for the information to be considered eligible for an award under the SEC's whistleblower program, it must be submitted on behalf of an anonymous whistleblower by an attorney. Whether or not a whistleblower chooses to report anonymously, the SEC is dedicated to safeguarding the whistleblower's identity to the utmost extent permitted by the law. The SEC's Office of the Whistleblower is responsible for overseeing the Whistleblower Program and addressing inquiries from the public about the program.
If You Are Thinking of Blowing the Whistle, Contact Nashville Whistleblower Attorney Timothy L. Miles Today
If you have knowledge of fraud against or by the federal government, contact Nashville whistleblower attorney Timothy L. Miles who can guide you through the whistleblower process and explain your whistleblower protections. The consultation is free and confidential. Just complete the form below to get started or call (855) Tim-M-Law. Ask a Nashville whistleblower attorney, you could be entitled to a significant whistleblower award.
Please also visit our Resources center which provides a wealth of information on whistleblower lawsuits, among others. Call today and see what a Nashville whistleblower attorney can do for you.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846–6529 Email: [email protected] Nashville whistleblower attorney Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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