What Is the SEC Whistleblower Award Process?
Deciding to blow the whistle can be a difficult decision to make, because you could be negatively impacted by the events that follow. Because the U.S. Securities and Exchange Commission (SEC) understands how difficult it is to take action against a company or organization for fear of reprisal, they offer whistleblower awards.
People might not blow the whistle if they don’t receive a whistleblower award because they could lose their job or be retaliated against for blowing the whistle. These brave individuals deserve to receive a financial award for being brave enough to report illegal behavior that a company or organization is engaging in.
If you’re unsure how the SEC whistleblower award process works, read on.
How to Get an Award for Blowing the Whistle
In order to get an award for blowing the whistle, you must report securities law violations to the SEC. You should be sure to follow the rules that relate to reporting violations.
Many people consult an SEC whistleblower lawyer to be sure they don’t make mistakes when reporting a violation. You want to make sure you report the information in the appropriate manner so you don’t miss out on the financial award.
Who Can Receive a Financial Award?
Not every person who blows the whistle can receive a financial award. Your tip must result in an action being taken against the company, corporation, or agency that was engaging in wrongful behavior. The action must result in a financial sanction against the company of at least $1 million.
You should work with your attorney to monitor your case to see whether it results in a financial sanction that meets or exceeds the minimum financial sanction criteria. If you believe you are eligible for an award, you will have to apply for an award within ninety days of the case being posted.
Receiving an Award
Although you can receive an award for blowing the whistle, there are some factors the SEC considers when determining the amount your award should be.
For instance, if you participated in the securities law violation, your award could be reduced. If you delayed in reporting information to the SEC, your award could be reduced. Additionally, if the information you provided to the SEC was extremely helpful, your award could be increased.
Get in Touch with an SEC Whistleblower Lawyer
A lot goes into blowing the whistle, and a lot must be done after in order for you to receive a financial award for the information you provided to the SEC. Working with a lawyer can help you in a number of ways. Your lawyer can guide you through the process of reporting a securities law violation and they can help you apply for an award.
Your lawyer will also safeguard your identity and protect your rights as a whistleblower. Get in touch with an SEC whistleblower lawyer to learn more about the SEC whistleblower award process. You can reach Meissner Associates through the contact form below or you can call 1-866-764-3100.
