Securities and Exchange Commission Whistleblower Program
If you have reason to suspect that a securities law violation has been committed and if you have information about possible violations of securities laws, you should be aware of the whistleblower program that is operated by the Securities and Exchange Commission (SEC).
The SEC believes that “assistance and information from a whistleblower” can be “among the most powerful weapons in the law enforcement arsenal of the SEC.” In order to encourage people with information about securities fraud to come forward and report what they know, whistleblowers are provided with a financial incentive.
The amount of money that you can obtain by taking part in the SEC’s whistleblower program is substantial. If you have information that the SEC can use to identify wrongdoing, you should talk with a whistleblower lawyer at Evans Law Firm. Our legal team has decades of experience with all different types of situations where whistleblowers have come forward and made a difference while earning substantial financial recompense for their efforts at stopping fraud and illegal behavior.
Contact us today for help determining if the information you have is appropriate to share with the SEC and for assistance taking advantage of the whistleblower program that will reward you for speaking up about wrongdoing.
How Does the SEC Whistleblower Program Work?
The SEC indicates that the Commission has been authorized by congress to provide substantial financial awards to people who provide “high-quality original information.” The financial awards are provided to people whose information leads to an enforcement action taken by the Commission. The enforcement action must result in at least $1 million in sanctions in order for the whistleblower to be given the financial reward.
The amount of the financial reward which the whistleblower is provided will vary depending upon various factors including the money that is collected by the Commission due to the tips provided. The amount a whistleblower receives will range from 10 percent to 30 percent of all of the money that is collected due to the tips and information provided.
In order to qualify to receive this award, you either must submit your information through the SEC’s online Tips, Complaints, and Referrals questionnaire or you must submit a hard copy form TCR, which can be mailed or faxed to the SEC’s Washington, D.C. location. Information can be submitted anonymously but you must have an attorney representing you. The TCR form must be completed and signed under penalty of perjury before you give it to your attorney to submit on your behalf.
Awards for whistleblowers have topped $175 million, according to the SEC, so you should make certain that you follow the proper process for obtaining your award if you have evidence of possible securities fraud or other criminal activity in violation of U.S. securities laws. To get help ensuring that you proceed with offering your information to the SEC in the most appropriate way, contact a whistleblower attorney at Evans Law Firm today.