The Securities and Exchange Commission (SEC) is the government agency that oversees transactions in the financial market and enforces securities laws. The SEC offers a whistleblower program as an additional effort to stop fraud and other crimes related to federal banking and investment laws. A whistleblower is an individual that provides actionable tips to the SEC that helps them recover monetary sanctions from these crimes.

To sweeten the deal of coming forward, whistleblowers are often eligible to receive financial rewards for their cooperation. These awards can potentially be maximized with the help of a qualified whistleblower attorney.

If you are considering filing a claim, let a Columbia SEC whistleblower lawyer help you protect your rights and simplify the process. Reach out today to learn more.

Who Can Become a Whistleblower for the SEC?

The Dodd-Frank Act of 2010 went into effect to prevent the occurrence of another devastating economic crisis like the one experienced in 2008. This gave the SEC a broader scope of power and allowed everyday individuals to provide tips to the agency that could initiate investigations to help further regulate the swaps market.

Qualifications for coming forward as a whistleblower are relatively straightforward. Any individual or group can provide information regardless of their citizenship or whether they are a part of the company they are reporting on or not. There are some exceptions to this, however, as certain parties, such as law enforcement, employees of the Justice Department, and members of regulatory agencies, are ineligible. The information given must also be:

  • True to the individual’s best knowledge
  • Handed over voluntarily
  • Original and unknown to the SEC

In addition, to qualify for an award, the details brought forward must result in successful monetary sanctions of at least $1 million. A skilled SEC whistleblower attorney in Columbia could help individuals understand their eligibility status and present the facts in a way that enhances the likelihood of their information being investigated.

Protections for Whistleblowers

It is easy to understand how reporting an employer would make an individual feel uneasy. In 2010, the Dodd-Frank Act granted the SEC a more extensive scope of power. Within this, there were also protections added for whistleblowers who are employed within the financial world. Specifically, it is illegal for an employer to retaliate in any way against someone who reports them for committing a crime. This includes firing, demotions, pay cuts, transfers, and harassment.

In addition, by hiring a Columbia attorney, SEC whistleblowers are able to maintain anonymity. In the event that their identity becomes known and their employer does choose to retaliate, skilled legal representation could also help them file a legal claim that could result in further financial compensation.

Reach Out to a Columbia SEC Whistleblower Attorney Today

Making the choice to blow the whistle on someone can feel like a daunting task, even when it is the right thing to do. You may be worried about losing your job, facing ridicule, or handling a complex legal matter. With the support and guidance of a Columbia SEC Whistleblower lawyer, you could protect your identity, maximize your potential award, and reduce stress by letting a legal professional handle the process.

Contact Bill Nettles, Attorney at Law, today to find out if you qualify as a whistleblower and to get started.

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