How The SEC Whistleblower Program Works

An SEC Whistleblower is a person that alerts the Securities and Exchange Commission about securities, stock or investment fraud. This includes insider trading, market manipulation, foreign bribery, false statements in financial filings, accounting fraud, fraud in offerings and any other type of securities fraud. A person can use the SEC whistleblower program if they are an expert analyst, an insider or whether they are personally affected by the fraud or not. This gives the SEC an opportunity to act on the information. The whistleblower’s first step should be to contact an SEC Whistleblower attorney.

 

The types of violations typically reported by whistleblowers include Ponzi schemes, Front running, accounting fraud, Pump-and-dump schemes, mutual fund fraud, insider trading, and the use of bribery to retain or obtain business. Anyone can become an SEC whistleblower. All they have to do is voluntarily give original information related to the possible violation of the federal securities laws whether such violation occurred in the past, is about to occur or is ongoing. The whistleblower doesn’t have to work for the company to provide the information. However, the information must result in the SEC taking successful action which results in financial sanctions in excess of $1 million.

 

People who report securities fraud are provided with several protections. The SEC whistleblower program has an anti-retaliation provision which protects whistleblower that are employees. The program also offers complete anonymity if the whistleblower is represented by counsel. Once the whistleblower provides signs and submits a completed Form TCR when they make their anonymous submission to the attorney that attorney can act on their behalf with the SEC.

 

People are encouraged to become securities whistleblowers because securities fraud costs investors an estimated $40 million annually in losses. Plus whistleblowers can receive 10% to 30% of the monies recovered if the information they provide leads to the recovery of $1 million or more. The whistleblower can receive more than 30% if its a significant case and the amount of assistance they provided. The Dodd-Frank SEC Whistleblower Program is an important SEC tool that has helped to uncover a vast number of fraudulent activities and brought the perpetrators of the fraud to justice.

 

If you are aware of securities fraud and want to participate in the Dodd-Frank SEC Whistleblower Program all you have to do is contact an experienced SEC Whistleblower lawyer. They will guide you through the necessary steps required for participation.

Ricardo Tosto: How one Brazilian Lawyer Built an Empire from Scratch

It’s no secret that lawyers are among the highest paid professionals in Brazil. There are certain prerequisites needed for one to enroll in a law school in the South American nation. The intense training takes close to six years to complete. To step foot inside the university, one has to have passed their high school examination. In Brazil, the prospective lawyers get subjected to an additional test known as the Vestibular.

 

Passing the Vestibular

Whether it’s a public or a private university, the rules are the same. The learning institutions have to get the authorization and the accreditation of the National Commission on Legal Education of the OAB Federal Council. Another yet significant regulatory body is the Federal Ministry of Education (MEC). Upon graduation, one goes for their internship.

 

Internship Placement

The Brazilian Bar Association abbreviated as OAB gives students a chance to take the exam three times a year. Students are expected to get a pass mark of at least 60%. The bar exam is structured into two-steps. One part MCQ and the other essay.

 

Brazilian Law Vs US Law

It is important to note that the Brazilian legal system is different from the U.S legal system. The main difference lies in the fact that the system in Brazil borrows heavily from that of the Portuguese. That is in stark contrast, to the US system which company past legal precedence from local rulings.

Another notable difference is that in Brazil, the judges take charge of the litigation proceedings. The presiding judges are responsible for all investigations and cross-examining the witnesses.In the States, however, those tasks are handled by the lawyers.

 

About Ricardo Tosto

Mr. Tosto’s main area of expertise lies in corporate litigation law. Ricardo is a self-made man. He started his career in a small shack of an office and then worked his way up to building the biggest law firm in his nation. His career has seen him defend and represent clients from all corners of the globe.

His legal enterprise is renowned for offering pro bono services for non-profit organizations and other notable courses as well. Mr. Tosto has won numerous awards and accolades for his milestone achievements and contribution to the legal world.