Los Angeles Office Location
Hennig Ruiz & Singh
Not sure if you have a legal case? Call us to talk to a lawyer:
Free Consultations
One Of The Most Successful Workers' Rights Trial Law Firms In California

Protecting those who help enforce the Dodd-Frank Act

People within all industries in California try to make as much money as possible and sometimes it is easier to do this if they do not follow the law. The laws are in place to make sure the system is fair for everyone and sometimes there are advantages to not playing by the rules. After the recession, they was great concern over what led to it and the government felt that there needed to be much greater oversight over the financial system. As a result there were major changes to the Dodd-Frank Act to protect consumers.

These protections for consumers can mean that it may be a little more difficult to do business, which was the intention of the new law. So, financial institutions may want to break these laws in order to make is easier to do business and ultimately make more money. The government cannot always regulate these laws as closely as they would like though. Therefore, they give employees and others with knowledge of the violations incentive to report the violations.

These are known as whistleblower protections. The law states that if a person provides original information of a violation that results in sanctions of over $1 million, he or she receives a portion of the money recovered by the government. The percentage that the whistleblower may receive is between 10 percent and 30 percent of the amount recovered. Also, the employer is prohibited from taking any whistleblower retaliation against the employee for providing the information. This means they cannot fire them, demote, harass, threaten or take other related actions against them.

The government clearly does not want financial institutions within California to violate the Dodd-Frank act. If they do, they are a number of penalties the government can enforce against them. However, before they can enforce the law, they need to know that there has been a violation. That is why there are incentives given for employees who report the violations. These employees have rights and experienced attorneys may be able to help ensure they are protected.

Source: www.sec.gov "Subtitle B - Increasing Regulatory Enforcement and Remedies - Sec. 922. Whistleblower Protection" accessed on Nov. 22, 2017

No Comments

Leave a comment
Comment Information
  • Super lawyers
  • California Employment Lawyers Association
  • Consumer Attorneys Association of Los Angeles

What Our Clients Say About Us

  1. I needed great attorneys in a short period of time, it was an emergency situation. Some research led me to the Hennig, Ruiz & Singh. We spoke on the phone and they had me come into the office and started on my case immediately. They got me exactly what I wanted and did it in the shortest amount of time possible. They were caring, fair and extremely good at what they do. I definitely would recommend them to anyone. -Scott Rooney

  2. If you are looking for legal representation I would suggest for you to consider Hennig, Ruiz & Singh. Put succinctly, their legal team was intelligent, hard working, responsive, and very knowledgeable throughout our time working together. While I of course cannot divulge details about the assistance that the firm provided for me, I can and will say that their representation was pivotal and changed my life for the better beyond words... -Shane Guglielmo

  3. I went to this firm to have a separation letter reviewed and met a young lawyer named Janet Hong. She was extremely friendly, professional, thorough and quick. She reviewed the documentation promptly and gave me actionable advice. I was able to resolve everything quickly. I would not hesitate to recommend Janet to anyone seeking legal services. -Brendan Hagerty

Schedule a Free Consultation

Ready To Start Protecting Your Rights? Call 213-985-1305

Not Sure Whether You Need Lawyer?

Answer a few questions to see whether you have a case.
Get Started Here

Office Location

Hennig Ruiz & Singh
3600 Wilshire Blvd.
Suite 1908
Los Angeles, CA 90010

Toll Free: 800-260-6542
Fax: (213) 310-8302
Map & Directions

Free Consultations

Contact Us