A decade after the arrest of Bernie Madoff, The Wall Street Journal examined the scandal's most tangible consequence, the development of an entire industry devoted to surfacing tips from company insiders and expert analysts who scrutinize corporate filings.
This includes the creation of the SEC's Whistleblower Program. According to the Journal, Labaton Sucharow partner Jordan Thomas, one of the program's principal architects, has become "one of the most prominent attorneys representing whistleblowers before the government."
"The program established the equivalent of an auxiliary fire department," said Jordan. "Now the SEC has the benefit of information, materials and expert assistance to investigate and prosecute their cases at no additional cost to the commission."