SEC Whistleblowers

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SEC Whistleblowers2020-05-29T13:41:18+00:00

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 SEC whistleblower 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.

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Frequently Asked Questions

What if I live outside the US? Can I still obtain a SEC whistleblower attorney?2020-05-22T15:35:54+00:00

Yes. Non-U.S. citizens can file cases and be represented by whistleblower attorneys.

What are the fees usually charged by an attorney to file a SEC whistleblower case?2020-05-22T15:34:34+00:00

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.

How do I know whether or not my information resulted in the SEC taking an enforcement action against the company or persons I reported?2020-04-23T15:25:58+00:00

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.

Can an individual anonymously file an SEC award case?2020-05-22T15:32:26+00:00

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.

What happens after filing an SEC whistleblower complaint?2020-05-22T15:31:48+00:00

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.

Who can be a SEC whistleblower?2020-05-22T15:31:01+00:00

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.

How does the Securities and Exchange Commission’s (“SEC”) whistleblower law work?2020-05-22T15:30:35+00:00

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.

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