The Dodd-Frank prohibits retaliation against any employee that reports in information to the SEC in pursuant to federal and state laws. The program emphasize that the SEC is required to pay up to 30% of the monetary sanctions collected on behalf of the whistle blower that provided the information that lead to legal action. A whistle blower can also collect additional awards under the Dodd-Frank Act if the sanctions collected is over $1 million dollars. The program has established protection for a whistle blower that is established in the legislation and carried out by state and federal laws.
The Washington Examiner recently reported the biggest payout in US history under the whistle blower protection act. In June, a whistle blower was rewarded an estimated $17 million dollars for providing information that closed an investigation into one of the key players in the financial industry. Thus, he is in favor of whistle blowers being able to provide key information to the SEC and they should be protected from employer retaliation.
Learn more about SEC Whistleblower attorneys