Working with a Lawyer to Submit a Whistleblower Tip to the SEC
Working with a Lawyer to Submit a Whistleblower Tip to the SEC
Given the increasing amount of corruption that permeates all large institutions, particularly financial ones, the ability and willingness of witnesses to come forward with evidence of these odious transactions is an essential tool in putting things right again. For this purpose, the US Securities and Exchange Commission (SEC) has a robust whistleblower program that offers significant rewards to those who do the right thing and come forward with inside knowledge of corrupt transactions.
Since the potential rewards are more than substantial, the SEC has taken care to ensure that only properly-vetted tips are eligible for compensation. While it is theoretically possible to just pick up the phone and file a report with the SEC, the practical realities require involvement in a legal case that may takes years to resolve. Although the SEC takes steps to protect the identity of whistleblowers and prevent retaliation from their employers, it is not always possible to fully guard against discovery and pushback.
Unfortunately, the SEC is a busy organization with many tasks to accomplish and they do not always perform their statutory duty to shield whistleblowers in a way that ensures complete protection. This is why it is so important to involve awhistleblower law firm in the filing of any whistleblower claim with the SEC.