The SEC has awarded $500,000 to a whistleblower who provided information leading to successful enforcement actions against an ongoing fraud scheme.
“The whistleblower’s information prompted an internal investigation by the company, which then reported to an outside agency, which in turn provided the information to the SEC. Separately, the whistleblower also reported to the SEC within 120 days of reporting the violations internally to the company. Under the “safe harbor” provision of the SEC’s whistleblower rules, the SEC treats the whistleblower’s information as though it had been submitted to the SEC at the same time it was internally reported as long as the whistleblower also reports the information to the SEC within 120 days of the internal report.”
It is an SEC and Finra violation to retaliate against an employee or individual who reveals potential misconduct to company supervisors, executives, or state and federal regulators. The attorneys at Warren Law Group are experienced in handling litigation involving insider information.
If you have first-hand knowledge of fraud, regulatory violations, or financial crimes, speak confidentially to the experienced attorneys at Warren Law Group at (866) WLGROUP or email us at firstname.lastname@example.org.