The Dodd Frank Act is frequently mistakenly called the Frank Dodd Act. The official name is the Dodd-Frank Wall Street Reform and Purchaser Protection Act, which was introduced by President Obama in July of 2011 as a direct reply to the monetary disaster that almost brought the country, and indeed the world economy, to its knees back in 2008.
The Frank Dodd Reform Act or the Dodd Frank Act was named after republican Barney Frank and Senator Chris Dodd who presented the idea to President Obama, and was a way of bringing about control that placed the regulation of the fiscal establishments forcibly in the hands of the government.
It is believed that by doing this, circumstances that should have been predicted and foreseen prior to the world collapse of 2008 will now be seen coming at them a mile away, and adversary action can be taken to avoid another finance catastrophe.
Qui Tam Whistleblower Laws
Qui tam is Latin and is short for 'qui tam pro domino rege quam poetry ipso in hac parte sequitir ' which interpreted means 'he who sues in this matter for the king, does so for himself also'. What this actually means is that anyone who exposes crime committed on the governing body (in this situation financial irregularities) can bring about a suit under the guise of 'qui tam ' on behalf of the govt. If successful they're going to receive a share of the cash recovered as a reward (generally from 15% to twenty five percent).
This is often referred to as a 'whistle blowing provision'. By smartly bringing in the qui tam laws the govt is in essence giving folk an inducement to get control of the situation from inside or basically to be the government's eyes and ears on the ground. An example might be an employee who works in a pharmaceutical firm who knows that her company is promoting off-label use of a drug to doctors. This is unlawful and could comprise a whistleblowing case.
The Frank Dodd Reform Act or the Dodd Frank Act was named after republican Barney Frank and Senator Chris Dodd who presented the idea to President Obama, and was a way of bringing about control that placed the regulation of the fiscal establishments forcibly in the hands of the government.
It is believed that by doing this, circumstances that should have been predicted and foreseen prior to the world collapse of 2008 will now be seen coming at them a mile away, and adversary action can be taken to avoid another finance catastrophe.
Qui Tam Whistleblower Laws
Qui tam is Latin and is short for 'qui tam pro domino rege quam poetry ipso in hac parte sequitir ' which interpreted means 'he who sues in this matter for the king, does so for himself also'. What this actually means is that anyone who exposes crime committed on the governing body (in this situation financial irregularities) can bring about a suit under the guise of 'qui tam ' on behalf of the govt. If successful they're going to receive a share of the cash recovered as a reward (generally from 15% to twenty five percent).
This is often referred to as a 'whistle blowing provision'. By smartly bringing in the qui tam laws the govt is in essence giving folk an inducement to get control of the situation from inside or basically to be the government's eyes and ears on the ground. An example might be an employee who works in a pharmaceutical firm who knows that her company is promoting off-label use of a drug to doctors. This is unlawful and could comprise a whistleblowing case.
About the Author:
To protect his voter President Obama passed the Dodd Frank Act. This is to help Dodd Frank whistleblower. Read on the manuscript of Brandenne Frison about the Frank Dodd
and its relation to American's finance protections.
and its relation to American's finance protections.
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