Senior Counsel Allison Herren Lee spoke with Corporate Crime Reporter about the Firm’s recently launched Whistleblower Representation Practice, the importance of experienced counsel in advancing whistleblower claims, and what recent trends at the Securities and Exchange Commission (SEC) mean for investors and individuals reporting misconduct.

As the only former SEC Commissioner and Acting Chair now representing whistleblowers in private practice, Allison brings a “rare perspective” on how enforcement decisions are made and how whistleblower submissions are evaluated.  Pointing to Labaton’s “reputation for excellence in handling high-stakes matters,” she describes the Firm as the ideal platform to advocate for whistleblowers.  “Now more than ever, individuals who come forward need experienced advocates who understand both the regulatory process and the significant personal risks involved,” she said.

Together with Of Counsel Andrew Feller, a former SEC Senior Counsel, Allison guides clients through every stage of the whistleblower process, from evaluating potential claims and preparing submissions to assisting with investigations and pursuing awards.  She notes that effective representation begins with a careful assessment of the allegations, the supporting evidence, and the relevant agency’s enforcement priorities.

Once they identify allegations that would be of interest to law enforcement, Allison and Andrew develop compelling submissions—based on their years of experience working as enforcement attorneys and working with whistleblowers—that help regulators assess potential misconduct.   “The first thing we do is put together a thoughtful and credible submission, using all the facts that our clients bring to us, all the evidence that they bring,” she explained.

Their work continues throughout an investigation, including responding to investigators’ questions, helping identify evidence, and representing clients in interviews.  If an enforcement action is successful, they prepare a detailed, carefully researched award application.  As Allison emphasized, “The life cycle of the case is long and very hands-on.”  In addition to SEC whistleblower representation, the Practice handles matters involving the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Internal Revenue Service (IRS).

Turning to recent trends at the SEC, Allison was optimistic that over time the levels of SEC enforcement and whistleblower awards will be restored, as well as bipartisan representation on the Commission.  She emphasized that the SEC “has always been staffed by deeply talented lawyers, people who are very public interest oriented.”