NYC SEC Whistleblower Reward
Many people wonder what is required to win an NYC SEC whistleblower reward. First of all, it is important to note that you do not have to live or work in NYC to be eligible for an SEC whistleblower award. The U.S. Securities and Exchange Commission (“SEC”) is a federal agency that has jurisdiction nationwide.
Second, you do not have to be an employee of a public company or financial institution in NYC. Anyone who has information about a corporate or securities fraud at any U.S. public company or financial institution can report that information to the SEC through the SEC whistleblower program.
Three General Conditions For An NYC SEC Whistleblower Reward
There are three general conditions that must be satisfied for an NYC SEC whistleblower reward. First, if someone from NYC voluntarily provides original information to the SEC that causes the SEC to open an investigation, or that substantially contributes to an ongoing investigation, that person may be eligible to receive an NYC SEC whistleblower reward.
Another requirement for an SEC whistleblower reward is that the SEC must bring a successful “action”. An “action” can be “successful” if it results in a settlement, a court judgment, or a judgment by an administrative law judge (an SEC in-house judge).
Third, for an NYC SEC whistleblower reward to become available, the SEC must collect more than $1 million from the wrongdoers as a result of the successful action.
Other Rules and Requirements Of The SEC Whistleblower Program
There are a lot of other rules and requirements that apply to the SEC whistleblower program. Some of those rules determine whether someone is eligible to receive an SEC whistleblower award. Other rules can disqualify someone from receiving an SEC whistleblower reward.
If you are thinking about becoming an SEC whistleblower, it may be a good idea to consult with an experienced SEC whistleblower law firm to find out whether you satisfy the rules and requirements to receive an SEC whistleblower award.
The Amount Of The SEC Whistleblower Award
If all of the rules and conditions are satisfied, and the SEC collects over $1 million, then by law the SEC must give out a monetary award to the whistleblower(s). That award must be between 10% - 30% of the amount of money that the SEC collects from the wrongdoers.
An Experienced SEC Whistleblower Lawyer
Jason R. Pickholz, the founder of the Pickholz Law Offices, was one of the first lawyers to win an SEC whistleblower award for a client. He was also the first SEC whistleblower lawyer ever to win an award on appeal to the full Commission in Washington, D.C. This first-of-its-kind victory was named a milestone of the SEC whistleblower program by Inside Counsel magazine.
He is the co-author of the two-volume book Securities Crimes, and is the sole author of the book’s comprehensive chapter on the SEC whistleblower program.
In recognition of his achievements, Mr. Pickholz was nominated and elected by his peers to be a Fellow of The New York Bar Foundation, an honor limited to 1% of the 74,000 lawyers in the New York State Bar Association.
For more information about Mr. Pickholz and The Pickholz Law Offices, please click on any of the links on this page.
How To Contact Us
If you are considering becoming an SEC whistleblower and would like to speak with an SEC whistleblower attorney, please give us a call at 347.746.1222.
Your initial conversation of up to one hour with Mr. Pickholz is free of charge. You are under no obligation to hire Mr. Pickholz or The Pickholz Law Offices when your initial conversation is concluded.
