Updated
May 14, 2025
An eligible SEC whistleblower is an individual who voluntarily provides original information to the U.S. Securities and Exchange Commission (SEC) about a possible violation of federal securities laws that has occurred, is ongoing, or is about to occur.
The SEC Whistleblower Program, established under the Dodd-Frank Wall Street Reform and Consumer Protection Act, aims to incentivize individuals to report securities law violations by offering monetary rewards if their information leads to successful enforcement action by the SEC.
Our firm welcomes former SEC acting chair and commissioner Allison Herren Lee
Now Of Counsel at Kohn, Kohn & Colapinto, Allison Herren Lee is ready to serve and protect whistleblowers, and help them seek rewards under the Dodd-Frank Act and SEC Whistleblower Program. If you’re an SEC whistleblower seeking to report a concern, contact our law firm today to speak confidentially with Allison Lee.
Defining Eligibility
To be considered an eligible whistleblower, an individual must meet certain criteria:
- Voluntarily provide the information: The individual must submit the information to the SEC without being requested or compelled by the SEC or another authority.
- Original information: The information provided must be based on the individual’s independent knowledge or analysis and not already known to the SEC or derived from publicly available sources.
- Leads to successful enforcement action: The information must be significant and contribute to a successful SEC enforcement action resulting in monetary sanctions of over $1,000,000.
- Compliance with the procedures: The individual must follow the SEC’s established procedures for submitting a tip, complaint, or referral. This typically involves using the SEC’s online portal or submitting the required forms through mail or fax.
Some individuals are not eligible to be whistleblowers under the SEC program, including:
- Members or employees of the SEC or other law enforcement organizations.
- Individuals who obtain the information through audits or communications protected by attorney-client privilege.
- Individuals who are convicted of a criminal violation related to the SEC action for which they provided information.
Since its inception in 2012, the SEC has distributed nearly $1.2 billion to a total of 249 people. The source of these payments is a dedicated fund for investor protection, created and supervised by Congress. This fund solely depends on the financial penalties received from those who have breached securities laws, meaning the SEC has not deducted any amount from victims of investment fraud to compensate whistleblowers..
SEC Whistleblower Program Annual Reports to Congress
[Read More]If you’ve witnessed a securities violation, you have the power to report it and make a real difference. By coming forward, you not only aid in upholding the integrity of our financial markets, but also become eligible for significant rewards and protection from retaliation under the U.S. securities law.
Kohn, Kohn & Colapinto stands ready to support and guide you throughout this process. We are dedicated to ensuring your rights are safeguarded and that you’re compensated for the risks you take. Stand up for what’s right, contact us today.
Our Firm’s Cases
Environment & Human Rights Violations Exposed
Oil industry’s environmental crimes and cover-up in Colombia have been exposed. Whistleblower Andrés Olarte Peña, with the support of his attorneys Kohn, Kohn & Colapinto and the damning evidence compiled in the Iguana Papers, is calling for an investigation into Ecopetrol and its executives by the Colombian government and the U.S. Securities and Exchange Commission.
$30 Million Award
Protecting the confidentiality of Wall Street whistleblowers is among the most important breakthroughs in federal whistleblower law. Under the Dodd-Frank Act, whistleblowers can file anonymous cases, and everything about their case, including who they sued, remains secret.
$13.5 Million Award
Our firm represented an anonymous whistleblower, who on May 17, 2021, received a whistleblower award of almost $13.5 million. The SEC has issued more than $31 million in whistleblower awards related to this case.
Relevant FAQs
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Latest News & Insights
During the Dodd-Frank rulemaking process, Kohn, Kohn and Colapinto’s partners worked closely with the SEC to create an effective whistleblower program.
During the Dodd-Frank rulemaking process, Kohn, Kohn and Colapinto’s partners worked closely with the SEC to create an effective whistleblower program.
Ready to blow the whistle? Our experienced team is here to protect your rights and guide you through the process. Contact us today for a confidential consultation.
Our pro bono team has helped lead the fight to pass amendments which would strengthen the False Claims Act (FCA).
Former SEC officials lead the firm’s new group, representing whistleblowers who report financial fraud and legal violations to the SEC, CFTC, DOJ, FinCEN, and the IRS.