Who Qualifies as an SEC Whistleblower?
Companies sometimes engage in illegal behavior, and the government cares about stopping this sort of behavior from continuing. Illegal behavior hurts the economy and our country in general. The government needs the public’s help in identifying companies or organizations that are engaging in illegal activities.
Do you believe you have information about illegal behavior that a company or organization is engaging in? If so, you might qualify as a whistleblower. If you tip off the U.S. Securities and Exchange Commission (SEC), you could be eligible to receive a whistleblower award. You will probably need the answer to this question: Who qualifies as an SEC whistleblower?
To find out whether you qualify, read on.
Qualifications of an SEC Whistleblower
Not just anyone who reports wrongdoing to the authorities will qualify as an SEC whistleblower. To qualify, you must do the following.
- You must report a securities law violation to the SEC. Even if the violation hasn’t occurred yet or is ongoing, the behavior will count as a violation.
- The information you provide must lead to a successful action against the violator and result in monetary sanctions of at least $1 million.
- More than one person can be a whistleblower, but companies or organizations cannot be whistleblowers.
- You don’t have to be an employee of the company or organization to submit information you know about the company or organization.
- Additionally, if you wish to be eligible for an award from the SEC, the information must be provided in the manner outlined in the whistleblower rules.
Contact an SEC Whistleblower Lawyer
Now you know who qualifies as an SEC whistleblower. If you believe you are eligible but still aren’t sure whether you want to come forward with what you know, it’s usually a good idea to talk to a whistleblower lawyer. Call Meissner Associates at 1-866-764-3100 to learn whether the information you have could lead to a financial award for you.