Most individuals, regardless of citizenship, are “eligible” whistleblowers if they voluntarily provide the SEC with original information about a possible violation of the federal securities laws that has occurred, is ongoing, or is about to occur.

The information provided must lead to a successful SEC action that results in monetary sanctions exceeding $1 million. Companies or organizations cannot qualify as whistleblowers. Furthermore, individuals are not required to be employees of a company to submit information about that company. An individual can qualify for an award and report anonymously if they are represented by counsel.

Since the inception of the SEC Whistleblower Program, the SEC has awarded approximately $1.2 billion to 245 whistleblowers. The largest SEC whistleblower awards to date are $114 million, $110 million, and $50 million.

Experienced SEC whistleblower attorneys can provide critical guidance and effective advocacy to whistleblowers to increase the likelihood that they not only obtain, but also maximize their awards.

Different eligibility rules apply to:

• officers, directors, trustees, or partners of an entity, if another person informed them of allegations of misconduct, or if they learned the information in connection with the entity’s processes for identifying, reporting, and addressing possible violations of law;
• employees whose principal duties involve compliance or internal audit responsibilities, or those employed by, or otherwise associated...

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