Randal Nardone is an ambitious lawyer who ended up making quite a fortune with his entrepreneurial skills. He attended the University of Connecticut and obtained his Bachelor of Arts as well as Science. He became a billionaire with partners Peter Briger, Robert Kauffman, Michael Novogratz and Wesley Edens. He owns an impressive 53 million shares that are worth $16 billion. He has also earned an additional 100 million in cash net payouts since the year 2005.
Randal Nardone is the co-founder of Fortress Investment Group. Randal Nardone has also made it to have a place on the Forbes Billionaire list. The Fortress Investment Group was the very first hedge fund to go public in 2007, and the firm managed around $70.2 billion in assets in 2016.
The financial industry has become very successful as well as advanced and developed. In the 2010s banks, financial institutions, and insurance companies are considered to be the top industries rather than the more traditional types of industries such as oil and the railroad. Fortress Investment Group has made many of its founders extremely wealthy, and Randal Nardone was even ranked 557 on the Forbes 2007 World Billionaires list which is a very coveted position to be in. He is now one of the main leaders in the world in the financial industry and has built up quite the impressive resume.
Nardone was previously a member of the executive committee of the Thacher Proffitt & Wood law firm before joining Fortress Investment Group. He was managing director, and he is also in many executive positions at Eurocastle Investment Limited, Alea Group Holding, and Brookdale Senior Living. For decades he has been where the action is, and he has established a very efficient allocation of capital which has helped to und many developments all over the world.
In 2010, the Congress played a major role in transforming the laws that manage the United States’ finance industry. This was by passing the two important legislations, which are the Dodd-Frank Wall Street Reform and the Consumer Protection Act. The Great Depression was the last reform that had been done before the enactment of this two laws. The Dodd-Frank Act supported the Securities and Exchange Commission to create new legislations that protect any individual who voluntarily gives it information about any organization that does not follow the state and federal securities laws. According to this whistleblower protection program, the informant should be given a significant monetary motivation and also assured that they would have job security.
After the enforcement of the whistleblower protection program, law firms were created to offer legal services to the SEC’s informants while others formed divisions to provide the representation. An example of these companies is the Labaton Sucharow, which pioneered the industry. The firm has been offering plaintiff representation for about five decades. It has a well-established program for filling litigations, and this ensures excellent service for its clients. The activities of the company are supported by its staff, which includes forensic auditors, financial experts, and in-house investigators who have adequate knowledge on the implementation of the securities laws.
The law firm’s whistleblower representation practice and attorneys are headed by Jordan A. Thomas. He has been working in the securities sector for a couple of years, and therefore, he has ample experience. Jordan once served the SEC as a deputy principal litigation counsel for its enactment department, and he was also an assistant director of the commission. One of the major roles that he has played in the industry is being a member of the panel that formed the SEC whistleblower program.
The Securities and Exchange Commission’s informants are currently entitled to 10-30 percent of the sanctions that the organization collects as a result of the information that they provide. The Commission also ensures that they are not sacked or blacklisted by their employer for being whistleblowers. The Dodd-Frank Act forbids companies from harassing SEC sources.
The whistleblowers are currently allowed to use attorneys as their representatives in situations where they would like to provide information anonymously. It is important for the informants’ identity to stay private, and therefore, they are advised to avoid giving personal information when reporting cases. The SEC uses attorney-client privilege to safeguard the information that it receives.
The attorneys that are a part of the Labaton Sucharow law firm are experts in the SEC. They know the ins and outs of the commission and they are able to help the people who want to blow the whistle on bad practices within the SEC. They are so dedicated, in fact, that this is the only group of people who they will service. They are a team of attorneys dedicated to helping people who want to be able to blow the whistle on unfair practices that are done by the SEC and may actually be illegal in the business world.
The Labaton Sucharow firm was not only created for the SEC. They were originally a business law firm that helped many different businesses with the various legal needs that they had. They were experts at business and they always made sure to pass their expertise on. When the SEC rolled out the whistleblower program, they knew that they had to do something to help. Since they had worked with these type of people before and knew the SEC well, they knew that this was the right direction for them to be able to take their law firm.
The SEC made the program in response to an overwhelming number of cases of internal theft. It was out of control and they needed to be able to stop it somehow. They created the program to help protect people who wanted to be able to tell on their bosses and other higher ups but who did not want to have to be reprimanded or, worse, fired because they blew the whistle. The SEC guarantees that they will protect any whistleblower who comes forward with information about things that are going on in the SEC that should not be going on or that are illegal.
They also help people who want to blow the whistle by rewarding them for coming forward with information. The rewards are often high and are something that people can look forward to. They are given out depending on what type of information comes from the whistleblower and from what they give them. They want to make sure that the claims are real and that things are really going on that shouldn’t be. For that reason, they do extremely thorough investigations before they make the decision to give (or not to give) someone a reward for coming forward.
The publicly traded stock market is a financial institution open to anyone. If a person wishes to purchase $100,000 worth of stock, the person may do so. An individual who only has $50 is certainly allowed to place a buy order. What all buyers and sellers of stocks must adhere to are the rules. Insider trading, for example, is barred and barred for everyone.
Looking the other way at wrongdoing is not something an honest person wants to do. Guilt is sure to weigh on the mind of someone who knows swindlers and cheaters are bending and breaking the rules of the market. Blowing the whistle to the Securities Exchange Commission (SEC) could start the process of setting things straight. Unfortunately, worries about retaliation are sure to worry the individual who wishes to come forward.
Those with such concerns are not being paranoid. Retaliation is always a possibility in the workforce. Someone who sees illegal activities in a financial firm he/she works for may end up being more worried about losing a job than reporting illicit activities. To address this matter, the Dodd-Frank Wall Street Reform and Consumer Protection Act was passed in 2010. The act helped create a new whistleblower program, a program designed to protect those who come forward to report crimes and violations.
The act even set up a generous rewards programs. A person who helped the government recover money through the enactment of the law may receive a percentage. So, if a financial institution is levied with a major fine or sanction, the whistleblower could receive up to 30%. The compensation alone may not completely motivate people to come forward and blow the whistle, but the reward may help some make a final decision regarding what to do.
Making decisions on one’s own is difficult. Navigating the stormy waters of the legal system after coming forward may also have its difficulties. To address such matters, seeking representation by a SEC whistleblower attorney is suggested. In fact, procuring representation turns over a lot of responsibilities to the attorney. Things could end up being smoother and safer this way.
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