The process for SEC whistleblowing involves submitting a tip online or by mail to the Securities and Exchange Commission (SEC). To submit your tip anonymously, you’ll need to hire an attorney. Your lawyer will submit the information and evidence you have to the SEC on your behalf.
An SEC whistleblower lawyer can ensure your report is filed correctly so you have the best chance possible of receiving a financial award for your cooperation. Let’s take a closer look at the SEC whistleblowing process and how an attorney can help you.
The Process for SEC Whistleblowing
The process for SEC whistleblowing can be complicated, as there are several steps and rules you’ll have to follow to submit your tip correctly. Additionally, if you are worried about the possibility of retaliation or reputational damage, you’ll need to take extra precautions to submit your tip anonymously.
An attorney can guide you through the process for SEC whistleblowing and help you maintain your anonymity. Here are some of the steps you and your lawyer will have to take to complete this process:
- Document who is involved, what occurred, when the violation occurred, and where the violation occurred
- Collect and organize any evidence you have that supports your claim
- Submit your tip through the SEC’s online portal or by mail and wait for the process to unfold
- Claim your financial award, if one is made available to you by the SEC
While these steps may seem simple, they can be difficult to execute correctly, especially if you’ve never reported an SEC violation before. Luckily, a knowledgeable attorney can guide you through this process and answer any questions you may have.
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How to Submit a Tip to the SEC
As mentioned above, you have the option to submit your tip to the SEC through the organization’s online portal or by mail. To submit online, you’ll have to use the SEC’s Tips, Complaints, and Referrals (TCR) portal.
One of the benefits of using the online portal for the SEC whistleblowing process is that you can request confirmation that your tip was received. Once you’ve submitted, the website will give you the option to print a confirmation receipt, including your submission number and a copy of your tip.
If you are submitting a joint tip with another whistleblower, you won’t be able to use the same online form. Instead, all whistleblowers involved in the tip should submit a separate form. To submit your tip by mail or fax, send it to the address listed on the SEC’s tip submission information page.
How to Add Information to a Previous SEC Whistleblower Submission
The process for SEC whistleblowing may require you to submit additional information after you’ve already submitted your initial tip. If you have to do this, you’ll need to submit the additional information through the online portal.
In your online submission, be sure to include your original TCR submission number so the commission knows which tip you are adding information to. Submitting and re-submitting information to the SEC can be complicated, but an attorney can help.
A skilled SEC whistleblower lawyer can assist you in organizing and submitting information regarding a securities law violation. Reach out to a lawyer today to learn more about the whistleblowing process and how to navigate it effectively.
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How to Claim a Financial Award for a Whistleblower Tip
As you likely know, SEC whistleblowers whose tips lead to enforcement actions with sanctions exceeding $1 million may receive a significant monetary award for their information. Understanding how this part of the SEC whistleblowing process works can help you get the award you deserve.
Depending on the significance of the information you provide and your willingness to cooperate throughout the SEC’s investigation, you could receive anywhere between 10% and 30% of the money collected by the commission.
However, you won’t be able to receive your financial award if you don’t file a claim for it within a certain period of time. According to SEC rules, you’ll have 90 days from the date that the commission posts a Notice of Covered Action regarding the enforcement action to file a claim for your award.
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Schedule a Free Consultation With an SEC Whistleblower Lawyer Today
Understanding the ins and outs of the SEC whistleblowing process is critical if you want to expose the violations you’ve observed, maintain your anonymity, and receive a financial award. At Meyer Wilson, we have over 75 years of combined experience handling cases related to securities law violations.
We’re confident we have what it takes to submit your tip in accordance with SEC rules. Contact our firm today to schedule a free consultation with an SEC whistleblower lawyer and learn more about the process ahead of you. We’ll meet with you to determine if you qualify to be a whistleblower and answer any questions you may have.
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