Experienced SEC whistleblower lawyers representing whistleblowers before the SEC Whistleblower Office
Kohn, Kohn & Colapinto’s whistleblower attorneys are experienced representing Dodd-Frank whistleblowers before the SEC Whistleblower Office, helped write the Dodd-Frank Act’s whistleblower law and worked closely with the SEC to ensure that the final rules for the SEC program would be whistleblower-friendly.
The firm has already won one of the largest awards ever paid by the SEC, and obtained the key precedent banning restrictive nondisclosure agreements. The SEC whistleblower program pays whistleblower awards to whistleblowers who provide the SEC with original information on violations of the Securities Exchange Act if the information leads to a successful enforcement action resulting in monetary sanctions exceeding $1,000,000. The range for awards is between 10 and 30 percent of the money collected.
In addition to working with Congress to draft the SEC reward law, Kohn, Kohn & Colapinto’s attorneys were extensively involved with the SEC’s historic whistleblower rulemaking proceeding. They met personally with each of the five SEC Commissioners and presented detailed reports and proposals setting forth rules that were essential to make the law work for Dodd-Frank whistleblowers as intended by Congress. The SEC adopted the key recommendations for enhancing its Whistleblower Reward Program advocated by KKC partners. This included the right of corporate compliance officials and directors to obtain rewards; and ensuring that employees who “participated” in a fraud but did not “plan and initiate” the fraud, could receive rewards.
If you would like to learn more about how to report securities fraud or violations of securities laws under the SEC whistleblower program, please contact Kohn, Kohn & Colapinto to discuss the matter at no charge.
- Stephen M. Kohn for The Guardian: Corporations cannot muzzle whistleblowers with secrecy agreements any longer
- See our Dodd-Frank Whistleblower Resource page.
- Kohn, Kohn & Colapinto also protects international whistleblowers who disclose violations of securities and other international laws, including the Foreign Corrupt Practices Act.
- For more information, please see our Dodd-Frank Act-Securities Fraud page, Dodd-Frank Act-Commodities Fraud page, or visit The Whistleblower and Qui Tam blog.
Frequently Asked Questions
Yes. Non-U.S. citizens can file cases and be represented by whistleblower attorneys.
Many whistleblower attorneys work for a “contingency” fee. The client does not have to pay any advance attorney fees. If the whistleblower loses his or her case, they do not owe the attorney any money. A typical contingency fee for whistleblower attorney is between 30-40% of the amount awarded.
Based on the status of a case, the whistleblower or the whistleblower’s attorney will know the status of an investigation. However, every month, the SEC Whistleblower Program publishes a list of Notices of Covered Action. In cases where a company or individual was sanctioned over $1 million, qualified whistleblowers can receive monetary rewards. Check the list monthly to see if you are qualified for a whistleblower reward.
In order to file an anonymous reward claim with the SEC, you must first hire an attorney. The attorney collects the information from the whistleblower and then files the claim on behalf of the whistleblower to the SEC. The SEC knows who the attorney is, but not the identity of the whistleblower. This way, the SEC whistleblower’s identity can remain protected throughout the investigation.
After filing a whistleblower claim with the Commission, the SEC will choose whether or not to initiate an investigation against the wrongdoer. If the investigation results in sanctions of $1 million or more the whistleblower who filed the original information initiating the investigation or contributing to the case is eligible to apply for a reward.
Almost any individual who reports securities violations to the Commission can become eligible for monetary rewards from the SEC Whistleblower Program. U.S. citizens and foreign nationals can both be SEC whistleblowers.
The SEC Whistleblower Program pays rewards to people who submit evidence of securities violations pursuant to the procedures required by the SEC. of securities laws. SEC whistleblowers who qualify for awards can receive payments ranging from 10 to 30 percent of the monetary sanctions collected by the Commission.