Monthly Archives: December 2016

The Successful Venture Of Marc Sparks

Published / by TheRugbyUnion / 1 Comment on The Successful Venture Of Marc Sparks

Marc Sparks is the Chairman, Chief Executive Officer, and Director of Unistar Financial Service Corp, a fully-integrated financial service holding company specializing in auto insurance, premium financing, and insurance claims management. He has an extensive experience, running many years in the insurance, surety bonding, and premium finance.

The company’s subsidiaries include U.S. Fidelity Holding Corp., Great Southern, Peak Underwriters, Eagle Premium Finance Company, Eagle Claims Corp., and International Surety & Casualty Company. He also serves as a member of Executive and Compensation Committees.

The company is a private equity firm that provides the necessary capital, office space, equipment, legal, accounting, graphic arts, web development, customer service expertise, intellectual capital, and banking services. Moreover, the company also provides its clients with marketing services, merchant banking, networking, and support staff services.

Besides the businessman, entrepreneur, and venture capitalist we know Sparks to be, he is also a philanthropist. He has always been interested in helping the less privileged. He runs a homeless shelter called The Samaritan Inn. It is a place where they teach self-sufficiency and life skills to meet needs of individuals and families experiencing homelessness.

Most services and support are provided free through donations by churches, organizations, corporations, and individuals. Sparks has actively been involved in the Habitat for Humanity through the funding of single unit homes construction to support development efforts.

Sparks is also a big champion of the American Can Academy, a group of magnet high schools. He has his own “Sparky’s Kids” Foundation. He has donated more than a thousand new computers to at-risk children to assist them come out of poverty.

On September 14th, 2014, Sparks published a book entitled ‘They Can’t Eat You.’ He did so after his colleagues convinced him to go ahead with the project.

The book tries to prove wrong the standard high school/college/start-in-the-mailroom path. He teaches how anyone, even a C-student, can become a successful entrepreneur. Sparks is a motivation to many aspiring young entrepreneurs in the world.

SEC Whistleblower Program-Understanding the Basics

Published / by TheRugbyUnion / 1 Comment on SEC Whistleblower Program-Understanding the Basics

The Congress passed the Consumer Protection and Dodd-Frank Street Act in 201. The law was and remains the strictest laws in regulating the financial sector in the United States after the Great Depression. In the act, a new whistleblower program, it offers employment protections and economic initiatives for people who report any securities violations to the SEC One important voice that played a major role in this was Jordan A. Thomas. He assisted in the development of the program and also in the drafting of a proposed legislation and implementation guidelines.

 

 

About the SEC Whistleblower Rewards

 

 

Under this system, the SEC is supposed to pay an eligible whistleblower at least 10% of the total cash sanctions collected from successful SEC enforcement action that exceeds $1 million. The qualified candidate must meet the target and to get additional awards depending on the financial sanctions they have collected in similar cases brought in by other law enforcers and regulatory organizations. It is important to hire a SEC whistleblower solicitor whenever there are challenges or doubts.

 

 

So far the program has paid over $ 54 million to around 22 eligible whistleblowers since the law was enacted. The SEC spent over 37 million dollars on eight candidates in the 2015 fiscal year alone. Nonetheless, the most publicized case was where a candidate was given more than 39 million dollars for providing sufficient information that resulted in a successful enforcement. To date, it remains the highest reward to be given under the SEC program.

 

 

Protecting the Whistleblower

 

 

Any deserving and qualified whistleblower is protected against revenge. Under this law, an employer is not supposed to dismiss, demote, or discriminate against a whistleblower for giving information. If an employer chooses to hit back, the law enforcers offer relief which may include reinstatement, compensation, for accrued expenses, and double payback. The whistleblower lawyer can help in following up the legal proceedings.

 

 

Offering Anonymity

 

 

The program grants anonymity until the whistleblower gets the award; whatever the case, they never reveal the identity to either private or public sources. The original information they provide leads to a successful enforcement action, or it can reopen an investigation or new inquiry. Also, it can apply when the matter was already under investigation, and the original details resulted to a successful action.

 

 

Determining the Award

 

 

The SEC looks at all available facts, evidence and uniqueness of a case to know the award percentage.