If someone is not compliant with federal banking and investment laws, the Securities and Exchange Commission (SEC) wants to know. The SEC has the authority to enforce financial regulations, and financial fraud should not be overlooked because the stability of the entire economy could be at stake.
Being a whistleblower for the SEC may seem risky, but knowing the requirements for an SEC whistleblower case in Columbia could ensure you are doing everything correctly, increasing your protections and potential for compensation. An experienced SEC whistleblower attorney, like those at The Law Offices of Bill Nettles, knows how to help you through the process and provide legal protection in the case of retaliation.
One of the primary requirements for the SEC to conduct an investigation is the Columbia whistleblower’s information must be original. A successful whistleblower cannot go to the SEC with information that is already known to a wide audience. It must be intelligence that the whistleblower knows personally or has witnessed in private. If the SEC already knows about the illegal actions, no award is given.
Dealing with the situation at your place of employment could also complicate the process. Information is not considered original if you overheard another employee reporting fraudulent activity to a supervisor. Also, if you report information to a manager, and they report it to the SEC, that is not considered original information either. However, if you report the information to a manager, and they fail to act on the information, you could then report the information to the SEC.
Another important requirement for a successful SEC case in Columbia is that the whistleblower must provide the information voluntarily. Providing information after it has been demanded through a legal process does not qualify as blowing the whistle on the person or company that committed the illegal actions.
However, there are some cases where a person or company may be under investigation by the law, and someone steps up to provide information voluntarily to aid the investigation. This would still count as whistleblowing.
For a whistleblower to be considered for compensation, the information they provide must lead to a successful enforcement action. This is an essential aspect of the process. If the SEC is able to use your information to move against an offending company under federal financial law, this typically results in monetary sanctions.
If the amount sanctioned is more than one million dollars, you may be able to demand a reward. Because this requirement is so crucial to your receiving compensation from the SEC for your assistance, an attorney in Columbia could help you learn ahead of time if your whistleblower case is likely to lead to a monetary outcome.
If you have any questions about the requirements for an SEC whistleblower case in Columbia, turn to a seasoned whistleblower lawyer at Bill Nettles, Attorney at Law. Coming forward with illegal financial activity may seem intimidating, but the SEC does rely on whistleblowers to find people or companies who are breaking federal financial laws. Our team could use their decades of experience in whistleblower law to help protect you and pursue rewards if your case leads to enforceable action. Contact us today to schedule a consultation.
