Former SEC Prosecutor
and Wall Street Defense Counsel
The Securities and Exchange Commission is dedicated to keeping our markets fair and protecting investors from unlawful behavior in the securities industry. As part of that mission, it offers a whistleblower program. In exchange for providing insider information that the SEC couldn’t necessarily discover on its own, whistleblowers are offered a financial award of at least 10% of the monetary penalty the SEC receives. Just as importantly, they also get assurance that their identities will be kept confidential.
Since the financial award is calculated as a percentage of penalties of over $1 million, it can be a powerful incentive for whistleblowers to step forward at great personal risk. But to maximize your chances of receiving a high award, you should talk to an experienced SEC whistleblower attorney. A lawyer can help present your information in a way that’s attractive to regulators, make sure you cooperate fully with all rules and requests from the SEC, and carefully guard your identity when necessary.Boca Raton Securities Attorneys
Our Boca Raton attorneys can meet with you in person, and have extensive experience working with the SEC. Boca Raton is home to a large retirement community, great wealth, and many fraudsters. From complex Ponzi schemes to penny stock fraud, our investment fraud attorneys have seen it all and we appreciate how to help Florida whistleblowers and victims of fraud properly file SEC whistleblower claims or recover investor losses.How It Works
When whistleblowers bring original, high-quality information to the SEC, they can collect 10% to 30% of the total financial award against the wrongdoer. However, there are important rules to know. The information must be original, which means that it can’t be public knowledge and if someone else reported it first, you must be the original source. In some cases, it can be your original analysis of publicly available information. The information must be provided voluntarily, which means not in response to a court order, subpoena or investigation. And it must lead to a successful SEC action netting more than $1 million.
The percentage the whistleblower can collect varies according to several factors, many of which you and your SEC whistleblower attorney can control.
These factors include:
If you have no negative criteria, the SEC will pay the statutory maximum for smaller cases with penalties of $5 million or less, and treat you favorably when determining the award in larger cases.
Since insiders take a very real risk by reporting to the SEC, the program keeps their information confidential whenever possible. Whistleblowers can also report anonymously, although they will need to do it through an SEC whistleblower attorney if they want to claim an award at the end of the case.An Experienced Lawyer
The Law Firm of David R. Chase and Silver Law have teamed up to offer vigorous representation to SEC whistleblowers. Both Scott Silver and David Chase are experienced securities lawyers with substantial experience in the whistleblower program. David Chase is a former SEC enforcement attorney himself; Scott Silver wrote a well-regarded outline of the whistleblower program, which he makes available free of charge. They understand what the SEC considers a high-quality tip, and they know how to position you for the best possible financial award at the end of the case.
Best of all, they offer free, confidential consultations, so you can talk to them about your rights and your options without any risk. To set one up, call 800.975.4345 or send a message online.