One of the most commonly asked questions that potential whistleblowers have is, “How long does a whistleblower case take?” Individuals who are considering blowing the whistle want to know how long they can expect to be tied up in interviews and discussions with the U.S. Securities and Exchange Commission (SEC) before they make the decision to come forward—and rightfully so.
Unfortunately, every whistleblower case is different. Various factors influence the length of both an SEC investigation into potential securities violations, and the time between the completion of the SEC’s investigation and the issuance of a whistleblower award.
Continue reading to learn more about the different types of securities violations the SEC is interested in investigating and how to strengthen your SEC whistleblower case.
The length of the SEC’s investigation will largely depend on the type and size of securities violation. Several examples are included below:
Depending on how many investors have been wronged, how many brokers are involved in the scheme, and how involved the brokerage firm or financial planning institution was, SEC investigations can go on for years.
Beyond that, once the SEC has completed their investigation, it can take some time for them to recover imposed sanctions and then determine how much you are entitled to, if anything.
You can do your part to decrease the length of the SEC’s investigation by providing the SEC with as much information as possible. Telling your side of the story likely won’t be enough, however.
You’ll need to be prepared to turn over confidential documents, internal documents, financial transactions and records, and any other evidence that clearly supports that there was a securities violation if you hope to speed up the process.
It will also be helpful to your case if you come forward sooner rather than later. As soon as you have even the slightest idea of an SEC violation, your best option is to come forward. Not only can the SEC get started on their investigation more quickly, but you reduce the risk of someone else coming forward before you have the opportunity to, which could seriously impact your ability to win a whistleblower award.
If you have uncovered information about potential securities violations and are considering bringing your tip forward, a highly trained SEC whistleblower lawyer at Meissner Associates can represent you throughout the process. To schedule a confidential tip review at our firm, call 1-866-764-3100 or fill out the brief contact form at the bottom of this page.