If you have information on violations of securities laws, you can take advantage of the SEC whistleblower program to report the crime and get compensation for your effort. Congress launched the program to help reduce the number of people engaged in securities manipulation and other scams that harm the economy.
Since such violations discourage investors and remove trust from the system, stopping them is in everyone’s best interest. The best part is that you can collect compensation if your report meets the requirements.
How the SEC Whistleblower Program Works
The SEC whistleblower program offers rewards to anyone who provides the government with new information that leads to sanctions against a violator. If you have information you would like to submit, you can do so on the U.S. Securities and Exchange Commission’s website, or you can print a form and mail it to them.
The government must impose sanctions of at least $1 million before you are eligible to collect your reward, and you can get between 10 and 30 percent of the damages collected depending on the value of your tip. After you make your report, you must review the website each day to see if the U.S. Securities and Exchange Commission takes action related to the information you submitted. You have 90 days after the government takes action against the offender to apply for your compensation, so you don’t want to waste time.
Why You Need an SEC Whistleblower Attorney
From filling out your initial report to applying for the reward, you must take many steps to get the outcome you want. If you make mistakes or forget to follow up on your report, you could lose your right to collect compensation for your effort.
You won’t need to worry about those roadblocks if you enlist an SEC whistleblower attorney to have your back. The lawyer you hire will guide you from start to finish. They will make sure you take each step correctly so that you can enjoy the best possible odds of success, and you will know you did the right thing.
Contact the Labaton Sucharow law offices if you would like to file a report and protect your rights. The team at the Labaton Sucharow has collected more than $1 billion for its clients, which is the highest success rate in the program’s history. This law firm has former SEC and DOD prosecutors on staff in addition to a team of world-class investigators. If you would like to know you are in the best possible hands, give them a call at (212) 907-0700.
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