Are you aware of the SEC Whistleblower Program? Are you a whistleblower who has information about potential fraud? If so, you may be eligible to receive a financial reward under the program.
What is the SEC Whistleblower Program?
The Securities and Exchange Commission (SEC) whistleblower program was created to help protect investors from fraud and other unethical behavior. It provides rewards to whistleblowers who come forward with information about violations of securities laws. This program is an important tool for uncovering and preventing financial crimes, and it has been credited with recovering billions of dollars in fines and penalties for investors. The SEC whistleblower program was established in 2010 under the Dodd–Frank Wall Street Reform and Consumer Protection Act. It provides financial incentives to individuals who provide the SEC with original information that results in sanctions against any company or individual that has violated securities laws. Whistleblowers can receive awards of up to 30% of any monetary sanctions that exceed $1 million. The purpose of the SEC whistleblower program is to encourage individuals to come forward with information about securities law violations. By providing financial incentives, the program encourages people to report these violations without fear of retaliation. The program also helps the SEC to identify and prosecute violations more quickly and efficiently, which can help protect investors from suffering further losses. The SEC whistleblower program has had a major impact on the securities industry. The program has led to hundreds of enforcement actions against companies and individuals. The SEC whistleblower program is an important part of the agency‘s efforts to protect investors and maintain the integrity of the securities markets. By providing incentives to individuals who report violations, the program helps the SEC to identify and prosecute financial crimes more quickly and effectively. The program has also helped to recover billions of dollars in sanctions and awards for investors.
What Qualifies as an Actionable Whistleblower Claim?
To qualify, a whistleblower must provide the SEC with information that relates to a violation of the federal securities laws. The information must be submitted correctly, and an experienced attorney may prove crucial in ensuring that this is done correctly and the whistleblowers interests and confidentiality are protected. The submission should include details of the potential violation, such as the names of companies or individuals involved, the dates of the violations, and the facts and circumstances. The SEC whistleblower program covers a wide range of claims, including, but not limited to, violations of the anti–fraud, disclosure, Ponzi schemes and pyramid schemes, and reporting provisions of the securities laws. This includes insider trading, accounting fraud, market manipulation, illegal offering of securities, false or misleading statements, or omissions in financial statements, and other corporate misconduct. In addition, the SEC whistleblower program also covers violations of the Foreign Corrupt Practices Act (FCPA), which prohibits bribery of foreign officials, and the Investment Advisers Act, which establishes standards of conduct for investment advisers. The SEC whistleblower program also covers violations of the Investment Company Act, which regulates mutual funds and other pooled investment vehicles, and the Sarbanes–Oxley Act, which requires companies to maintain accurate books and records and to disclose any material information to the public. The program is designed to encourage people with knowledge of potential violations of the securities laws to come forward and report their concerns. To be eligible for a financial reward, the information provided by the whistleblower must lead to a successful enforcement action resulting in sanctions of more than $1 million.
How Are SEC Whistleblowers Rewarded?
The SEC‘s whistleblower program offers eligible whistleblowers the opportunity to receive an award of up to 30% of the money the SEC is able to recover as a result of the information provided. The size of the award will depend on a variety of factors, including the significance of the information provided and the extent to which the whistleblower assisted the investigation. If you have information about fraud and would like to learn more about the SEC‘s whistleblower program, contact a qui tam plaintiffs law firm today. At our firm, we specialize in representing whistleblowers in qui tam and SEC whistleblower cases.The SEC‘s whistleblower program has been incredibly successful since its inception in 2010. In total, the SEC has recovered more than $1.7 billion in sanctions as a result of whistleblower tips, and it has paid out more than $387 million in awards to whistleblowers who have provided information leading to successful enforcement actions. These awards have reached up to $30 million depending on the significance of the information provided and the extent to which the whistleblower assisted in the investigation. Indeed, recent awards have reached $28 million.
Contact Our Experienced Whistleblower Attorneys Today
If you have information about fraud and would like to learn more about the SEC‘s whistleblower program and how you may be eligible for a financial reward, contact a qui tam plaintiffs law firm today. Our firm specializes in representing whistleblowers in qui tam and SEC whistleblower cases. We can help you understand your rights and ensure that you receive the full financial reward you deserve for reporting fraud. Contact us today to learn more about the SEC‘s whistleblower program and how you may be eligible for a financial reward.
At Price Armstrong, our qui tam attorneys have extensive experience representing whistleblowers. If you have information about claims that may qualify under the SEC whistleblower program, you may have a valuable claim as a whistleblower. Contact us today for a free initial consultation and review of your case.
