Whistleblowers are Increasing on Wall Street

New York Post
June 30, 2014

Jordan A. Thomas praises the early success of Dodd-Frank's whistleblower program

This year has marked a turning point for regulatory action against the country's largest financial institutions, with federal and state agencies moving beyond the misdeeds of the 2008 financial crisis and devoting attention to other fraudulent schemes, including money‐laundering, taxdodging and predatory trading. That's because frustrated Wall Street workers — emboldened by a beefed‐up whistleblower program as part of Dodd‐Frank financial reform — are finding it easier and potentially more lucrative to rat out wrongdoers within their own ranks, experts say.

"The whistleblower program was born out of the financial crisis and has been one of the great success stories of the statute," said Jordan Thomas, chair of the Firm's whistleblower representation practice.

"Many of these organizations lack a culture of integrity, where doing the right thing was the only thing that mattered and speaking up was encouraged," Thomas said.