Talkin’ ‘Bout Guts: Help for SEC Whistleblowers

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Talkin’ ‘Bout Guts: Help for SEC Whistleblowers

There is nothing worse or more underhanded than a company or broker committing fraud against the people who have trusted them. It’s wrong, but it happens all the time.

Sometimes, men and women bravely step forward to blow the whistle on those violating federal securities laws. Those people stand to receive substantial monetary rewards, and a qualified SEC whistleblower attorney can help them get what they’re owed.

 

Meet the SEC

The Securities and Exchange Commission (SEC) is tasked with catching people who are attempting to commit fraud against investors, the government, or the general public.  

While the SEC has a definite mandate, catching these criminals can be extremely difficult without the help of a citizen who comes forward. These heroes are known as whistleblowers.

 

Being a Whistleblower

First, it is important to understand that being a whistleblower is not easy. It takes a great deal of guts for somebody to decide to come forward and, often, betray the confidence of people they know and work with.

However, if they are doing something to hurt other people, it is important to come forward.  

 

You’ll Be Protected

It is not loyalty to turn the other way when somebody is committing a crime, particularly one that is going to hurt other people financially. It takes a hero to stand up and say something. But, because it is difficult to do this, the SEC has provided monetary incentives and protections for people who choose to come forward.

 

You Could Get an Award

The SEC can award a whistleblower between 10 and 30 percent of money collected when enforcement action results in over $1 million in sanctions. Imagine being able to do the right thing and then getting paid hundreds of thousands of dollars for it.

 

You’ll Be Legally Protected

Some people are worried that they will face legal repercussions if they come forward. Under the Dodd-Frank Act, however, people who come forward and provide legitimate information are protected under the law. Specifically, an employer may not fire someone who has been involved in a whistleblower action. In other words, your job is safe.

In addition, the act also prohibits employers from taking retaliatory action, such as demoting, suspending, threatening, or harassing whistleblowers or discriminating against them in any way.

However, the act doesn’t keep all employers from trying to punish whistleblowers. That’s why many choose to hire SEC whistleblower protection lawyers.

 

Keep Your Identity Private

If you want anonymity when blowing the whistle, it is possible. To do so, you should hire a whistleblower protection attorney who can represent you, speak on your behalf, and negotiate for you.

Sometimes, a whistleblower’s identity may remain a secret, even from the SEC, until the time comes to pay the reward. This is the highest degree of protection that can be offered to people who want to blow the whistle on acts of money laundering, accounting fraud, mispricing of stock, violations of the Foreign Corrupt Practices Act, and others

 

Speak with an Attorney

If you want more information about your rights as a whistleblower or the protections available to you, contact an SEC whistleblowing attorney.