What Are the SEC’s Anonymity Rules for Whistleblowers?
Reporting tips regarding securities violations is critical to stopping fraudulent activity within financial markets and securities industries. Unfortunately, it can be risky for would-be whistleblowers to provide the information they have to the Securities and Exchange Commission (SEC).
Fortunately, there are protections in place for SEC whistleblowers. If you are interested in becoming a whistleblower, you’ll have the option of remaining anonymous as you provide your tip to the SEC.
Why Remain Anonymous?
The most critical reason that potential whistleblowers want to protect their identities is the fear of retaliation by employers. Although the Dodd-Frank and the Sarbanes-Oxley acts both expressly prohibit employers from retaliating against suspected whistleblowers, that doesn’t mean they always obey.
The fears of harassment, demotion, termination, suspension, and even slander are all very real for would-be whistleblowers. Having the protection of remaining anonymous can help you stay confident that those involved in the fraudulent activity won’t learn your identity and make your life difficult.
Report Your Tip Through an Attorney
There are specific requirements—outlined by the SEC and Dodd-Frank—that whistleblowers will need to follow if they hope to remain anonymous. The first of those requirements holds that you must report your tip through an attorney.
You will discuss the information you have with your lawyer first and be informed about what you can expect after you report your tip, as well as be advised as to whether we anticipate that the SEC will be able to successfully investigate and enforce action against the fraudsters. If the SEC achieves this success, you may be eligible for a financial reward.
Then, we will report your tip to the SEC on the condition of anonymity. We will arrange for interviews to be conducted via telephone. If you are going to receive a reward, however, this will change.
Disclosure Upon Disbursement of Your Award
The SEC requires disclosure of the identities of those who receive whistleblower rewards. Although your identity will not be made public, the SEC will need to know who you are in order to issue you the award you deserve.
This won’t occur unless or until the commission is ready to provide your award, however, so you’ll continue to remain completely anonymous throughout the reporting and investigative process.
Consult an SEC Whistleblower Lawyer
When you have information about a possible securities violation within your company and are considering blowing the whistle, contact a qualified SEC whistleblower lawyer at Meissner Associates.
Our firm can help you report your tip and remain anonymous so you are protected from retaliation and able to maximize your chance of receiving a whistleblower award. Simply fill out the secure contact form below or call our office at 1-866-764-3100 to take advantage of your confidential tip assessment today.