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The United States SEC Whistleblower Program

The U.S. Securities and Exchange Commission (SEC) Whistleblower Program was created by Congress in 2010. It came into effect on July 21, when the President signed the Consumer Protection Act and the Dodd-Frank Wall Street Reform into law.

The section 922 of the Dodd-Frank Reform amended the Securities Exchange Act of 1934 by adding Section 21F, which created the SEC Whistleblower Program and the SEC Whistleblower Office. These programs have so far enabled the SEC to recover about $1 billion in financial penalties from violators.

The Whistleblower Program is designed to provide monetary rewards for individuals who can offer SEC tips involving the violations of federal securities laws. The program in March 2018, awarded a whistleblower more than $33 million in reward, the largest single award in the seven years since the commencement of the program.

The chief of the SEC’s whistleblower office, Jane Nirberg believes that the monetary awards would entice more individuals to provide valuable information to the SEC regarding violations that may have otherwise gone unnoticed.

According to the law, eligible whistleblowers are entitled to an award of 10 to 30 percent of the monetary sanctions received from the perpetrator of the reported act. So far, as reported on the SEC official website, the office of the SEC Whistleblower has awarded more than $262 million to 53 whistleblowers.

In regards to the whistleblower policy, an individual is considered eligible if he/she voluntarily provides the SEC with original information about a possible violation that has already happened or is about to happen. The information is expected to result in a monetary sanction exceeding $1 million. The Program also allows individuals or organizations to report cases anonymously.

Whistleblowers are usually advised to get an attorney for the ease of claiming their reward. Labaton Sucharow is one of the leading whistleblower advocates. The firm has well-known attorneys who have a lot of experience in SEC-related cases.

To better protect the identity of whistleblowers, the Sarbanes-Oxley Act was created especially for individuals who report a cyber breach related to alleged mail, bank, wire or security fraud. The act also covers whistleblowers who report delayed notification of major cyber events, and alleged violations of the U.S. Securities and Exchange Commission’s (SEC) rules and regulation.

Whistleblowers’ employers may not discharge, demote, suspend, harass, or in any way discriminate against them because of any lawful act that was done to provide information to the SEC whistleblower program.

The accomplishments of Malini Saba as an Investor and a Philanthropist

Malini Saba is a renowned investor and philanthropist from South Asia. Saba founded Saban Capital Group, a company that has invested in various technology companies in U.S, oil and gas businesses in China, and Real Estate groups in Australia and India.

Besides the passion in investments, Malini Saba is a passionate Philanthropist. As a philanthropist, she established Stree Global Investments in Women. Stree is a not for profit organization that empowers the roles of vulnerable and low-income women and children in their societies.

Stree has helped vulnerable women and children in Africa, Central America, India and Eastern Europe to access better healthcare services. Besides creating Stree, she donated $1 million to El Camino Hospital in Central America. The sum was a donation to start a Heart Research Center. She is also a member of Stanford Cancer Institute.

Malini Saba was born in Malaysia and brought up in Australia. Her investment career started from a humble beginning when she moved to United States at the age of 19 years with nothing to survive on.

Drawing lessons from her humble background, she developed an urge to pursue business investments. She sought advice from investment bankers and she began to invest in telecommunication, commodities, and real estate as a Silicon Valley venture capitalist early in 1990.

She has more than 20 years’ experience investing in tech companies such as PayPal Inc., Netscreen Technologies Inc., and Sycamore Networks.

Her effort and passion for changing the world have made her receive several accolades. In 2001, the Businesswomen Network based in Washington Dc awarded her as the Entrepreneur of the year and in 2004, The LA County honored her with the Mother Theresa Award. In 2005, she was awarded the Philanthropist of the year by Pyratham, an NGO that promotes education for children. In 2007, she was honored as an Ambassador of Peace by The Federation of Peace.

Malini previously worked at William J. Clinton Foundation, was a board member in ARC, and an advisory committee member at Sharon’s Message. She is a highly skilled speculator specializing in venture capital investments, oil and gas, technology, and real estate. She is also passionate about society-wide economic empowerment and poverty alleviation and respect to human rights and civil rights.

Malini Saba is among few women in the world who have achieved such accomplishments as either a philanthropist or an investor.