SEC rule 21F for whistleblowers incentivizes individuals to report violations of federal securities laws by offering financial awards to whistleblowers. If you’re aware of an SEC violation that occurred at your place of work, understanding this rule can help you get the monetary award you deserve.
That said, the process of reporting an SEC violation can be complicated and could lead to retaliation from your employer. To report a violation correctly and anonymously, you’ll want to work with an SEC whistleblower lawyer. They can guide you through the steps required to report a violation and collect your financial award.
Who Qualifies for an Award Under SEC Rule 21F for Whistleblowers?
In some cases, whistleblowers provide the SEC with tips regarding potential violations that don’t lead to an investigation or enforcement action. In a situation like this, the whistleblower isn’t eligible to receive a financial award.
According to SEC rule 21F for whistleblowers, you are eligible to receive an award if you voluntarily provide original information regarding an SEC violation. The information you provide must lead to an enforcement action and monetary sanctions in excess of $1 million.
Reporting a violation can be difficult, especially if you’re concerned about protecting your anonymity. Luckily, a skilled attorney can act as an intermediary between you and the SEC, ensuring your identity is protected and ensuring you have the best chance possible of receiving an award for the information you provide.
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How Much Can an SEC Whistleblower Receive?
If you’re considering reporting an SEC violation, you’re probably wondering how much you can receive for the information you have. According to SEC Rule 21F for whistleblowers, you can receive between 10% and 30% of the money collected through monetary sanctions.
According to § 240.21F–6, there are several factors that may lead to an increase in the award you receive. The SEC will take the following factors into account when calculating your financial award:
- The significance of the information included in your report
- The degree to which your report supported an enforcement action and conserved SEC resources
- The amount of assistance you provide to the SEC investigation
- And more
The SEC will consider a number of factors when determining how much you should receive. An attorney can explain this process in greater detail and answer any other questions you have about SEC rule 21F for whistleblowers.
You Have a Limited Amount of Time to Claim Your SEC Whistleblower Award
If you plan on reporting a violation to the SEC, you should know that you’ll have a limited amount of time to claim your financial award. If the tip you submit results in monetary sanctions over $1 million, the SEC will post a Notice of Covered action on its website.
Once this notice is published, you’ll have 90 days to apply for your financial award. Failure to meet this deadline could bar you from receiving any money for the information you provided. Luckily, a skilled SEC whistleblower lawyer can help you comply with all the requirements set forth in Rule 21F, ensuring you have an excellent chance of receiving an award.
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How an SEC Whistleblower Lawyer Can Help You
Reporting a securities law violation that occurred at your place of work can be a nerve-wracking process. If you’re considering reporting a violation, you might be worried about retaliation, reputational damage, and other negative outcomes.
Working with an SEC whistleblower attorney can protect you from these consequences and ensure your report is compliant with the guidelines provided in SEC rule 21F for whistleblowers. Finally, an attorney can offer more information on the award you may receive for your information and cooperation.
You can count on an experienced lawyer to help you report any of the following securities law violations to the SEC:
- Manipulating stock prices
- Market manipulation
- Insider trading
- Broker embezzlement
- Pump and dump schemes
- Ponzi schemes
- Fraudulent financial statements
- And more
These are serious violations that impact investors, consumers, and other involved parties. If you have information regarding one of these offenses or another violation of securities law, consider working with an attorney to file a report with the SEC. A lawyer can protect your anonymity and guide you through the whistleblowing process.
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Schedule a Free Consultation With an SEC Whistleblower Lawyer
Reporting a violation to the SEC can be a complex and daunting process. Fortunately, you don’t have to navigate this process by yourself. Instead, you can work with a highly skilled SEC whistleblower attorney. A lawyer can make sure your report is filed correctly and ensure you’re on track to receive a financial award for your help.
At Meyer Wilson, we have over 75 years of combined experience handling cases like yours. Contact our firm today to schedule a free consultation with a legal representative and learn more about how to report a violation. We’ll meet with you to discuss the violation you have information about and any questions you have about SEC rule 21F for whistleblowers.
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