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New York City Whistleblower Reward

Individuals living or working in New York City, who come across instances of corporate fraud or securities violations, usually consider reporting the violation to the authorities because it is “the right thing to do.” However, they often wonder how it might affect them and what, if any, personal benefit there is to their undertaking the effort to do so. One answer is that if they provide their information to the U.S. Securities and Exchange Commission (“SEC”), they may be eligible to receive aNew York City whistleblower reward from the SEC.

new york city whistleblower award

As a Federal Agency, the SEC has authority throughout the United States. So, an SEC whistleblower may be a resident or employee of any state in the country and possess the same eligibility for an SEC whistleblower reward.

Further, an SEC whistleblower needn’t be employed by a public company or financial business, or for that matter, be a U.S. citizen or resident, to qualify for an SEC whistleblower award. The SEC has rewarded foreign nationals with whistleblower awards, too. Any individual who has information about a business or securities fraud at any U.S. public company or financial organization can provide the information to the SEC through the SEC whistleblower program.

What Is An SEC New York City Whistleblower Reward?

Under the Dodd-Frank Act, the SEC is required to reward qualifying whistleblowers with between 10% to 30% of the sum obtained when the penalties collected by the SEC from the wrongdoers are in excess of $1 million. As a New York resident or employee, you may be eligible for this New York City whistleblower reward from the SEC if you voluntarily provide original information about corporate fraud or securities law violations to the SEC, and this information leads to a successful action by the SEC.

Keep in mind, though, that there are a lot of SEC whistleblower rules that determine whether someone is eligible to receive an SEC whistleblower award, and a lot of rules that could disqualify someone from receiving an SEC whistleblower reward. If you have any questions or concerns about those rules or your eligibility under the SEC whistleblower program, you may want to consult with an SEC whistleblower law firm.

Types of SEC Actions

Some types of cases that might lead to a New York City whistleblower reward from the SEC include, but are not limited to:

  • False or misleading financial statements
  • False or misleading reporting and disclosures
  • Foreign Corrupt Practices Act (FCPA) violations
  • “Pay-to-play” violations
  • “Gatekeeper” cases against accountants, auditors, compliance professionals, and others
  • Insider trading
  • Fraud and violations involving mortgage-backed securities and collateralized debt obligations
  • Municipal securities frauds and violations
  • International investment fraud
  • Market manipulation
  • Ponzi schemes
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Jason Pickholz -

The Pickholz Law Offices represents U.S. and international clients in securities and white collar cases. The Firm has helped whistleblowers report frauds to the SEC, CFTC, and IRS, and has defended clients in investigations by the SEC, CFTC, DOJ, FINRA, and other financial and securities enforcement regulators.

The Firm’s founder, Jason Pickholz, is the author of the two-volume book Securities Crimes, has appeared on tv and radio, and has taught continuing legal education courses. A former BigLaw partner, he has been representing clients in financial and securities fraud cases since 1995. In recognition of his many achievements, Mr. Pickholz was elected by his legal peers to be a Fellow of The New York Bar Foundation, an honor limited to just 1% of all attorneys in the New York State Bar Association.

Mr. Pickholz has been counsel in many high-profile cases. He was the first attorney ever to win an SEC whistleblower award on appeal to the Commission, which Inside Counsel magazine called one of the five key events in the history of the SEC whistleblower program. On the defense side, Mr. Pickholz has defended clients in the SEC’s COVID-19 investigations, the CFTC’s cryptocurrency cases, and a former US Senator, among others.

If you want to speak with a CFTC, IRS, or SEC whistleblower lawyer, or with a white collar defense lawyer, you can call the Firm at 347-746-1222.

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