The Dodd-Frank Act, formally known as the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), is a major US financial regulatory law that created whistleblower reward programs at certain federal agencies. The Dodd-Frank Whistleblower Award Programs were created by Congress as a way to bring possible fraudulent activity or misconduct to light. The programs offer monetary awards, confidentiality and anti-retaliation protections, including the ability for a whistleblower to report fraud or misconduct anonymously through counsel, to the appropriate Whistleblower Award Program. 

Our team of attorneys has successfully represented whistleblowers who provided inside information about fraud or misconduct to the Dodd-Frank Whistleblower Programs at the SEC, CFTC, FinCEN within the U.S. Treasury, and the Department of Justice (DOJ).  

As a whistleblower, you can be a current or former employee of the company you believe committed or participated in the fraud or misconduct, a victim of an investment scheme, an employee at an accounting or auditing firm, an employee or former employee at a bank or investment bank, an employee of an investment advisor, or an outside analyst, or an employee at a public company with inside information. 

Examples of Securities Fraud 

• False or misleading disclosures regarding a company’s financial results or condition, its products, or its business risks 
• Improper securities trading practices 
• Charging hidden fees to investors 
• Ponzi schemes 
• Fraud in connection with digital assets and other crypto assets 
• Securities/Investment Fraud (public companies and financial services firms not in compliance with the SEC’s rules and regulations, manipulation in stocks, options, bonds, mutual funds and other funds, and fraud in financials/accounting fraud, insider trading 

We know that becoming a whistleblower is not an easy decision and one that is best made with attorneys who are expert in the law and processes of the Dodd-Frank Whistleblower Programs. We ensure the whistleblowers with whom we work feel supported and heard, and we carefully walk our clients through the entire process, from initial consultation to filing with the appropriate agency to the possible receipt of a whistleblower award. 

If the information you provide leads the enforcement division to open an investigation, and more than $1 million is collected in sanctions, you may be awarded between 10% and 30% of the sanctions. The amount can be increased, depending on how significant your information is, the extent of the success of the enforcement action against those violating the laws, and the SEC’s interest in deterring similar misconduct, among other factors. 

SEC Rules Prohibit Retaliation for Whistleblowing 

The law prohibits employers from discharging or discriminating against whistleblowers under the Dodd-Frank Act.  

If you believe you have been retaliated against due to your whistleblower status, your retaliation claim must be brought within six years of the retaliatory conduct. If your retaliation complaint is successful, you may be reinstated and provided double back pay, fees, and costs. 

Why Choose Cohen Milstein 

We are unique in that our attorneys have been involved in the Dodd-Frank Whistleblower Programs since their inception. In fact, Christina McGlosson worked with Congress to draft the original Dodd-Frank Whistleblower regulations governing the SEC’s Office of the Whistleblower. She continues to work with Congress, drafting legislation to refine certain aspects of the Dodd-Frank Whistleblower Programs for specific agencies.  

Cohen Milstein has the only whistleblower practice with an attorney who has worked on legislation for the two most active Dodd-Frank Whistleblower Programs – the SEC and CFTC. In addition, Christina McGlosson has served in senior roles at the SEC and CFTC’s Enforcement Divisions, and as Acting Director of the CFTC’s Whistleblower Office. 

Whistleblowers play an essential role in alerting the SEC, CFTC, FinCEN, and the DOJ to ongoing fraud and misconduct and other nefarious and noncompliant conduct that undermines the efficiency and integrity of the domestic and global financial markets.