SEC Whistleblower New York City Award
What Is An SEC Whistleblower New York City Award?
Since you have landed on this page, you have probably heard that there is something called an SEC whistleblower New York City award. Most likely you are looking for more information about what an SEC whistleblower New York City award is, and what the requirements are to win one.
The SEC shield
New York City does not give out SEC whistleblower awards. When people talk about an SEC whistleblower New York City award, they are typically referring to an SEC whistleblower award. In simplified terms, an SEC whistleblower award, or an SEC whistleblower reward, is a monetary award given out by the United States Securities and Exchange Commission (“SEC”) to people who provide the SEC with information about corporate frauds or securities law violations.
The SEC is a federal agency. It can bring cases for securities frauds, and for corporate frauds committed by public companies, no matter where in the U.S. the company or fraudster is located. Under the SEC whistleblower program, the SEC can give out monetary awards to qualified SEC whistleblowers located anywhere, not just in New York City.
How Do You Win An SEC Whistleblower Award?
The first basic requirement of the SEC whistleblower program is that an individual must voluntarily provide original information to the SEC about a securities law violation or a fraud at a public company. If the SEC uses a person’s information to open a new investigation, that person may become eligible to receive an SEC whistleblower award. Alternatively, if the SEC uses a person’s information to bolster an already ongoing investigation, that person, too, may become eligible to receive an SEC whistleblower reward.
The second basic requirement is that the SEC must bring a successful action in which it collects more than $1 million from the violator or violators.
Generally speaking, if the above requirements are satisfied, the SEC must give the whistleblower(s) an SEC whistleblower award of between 10% - 30% of the amount that the SEC collects from the violators.
Specific Rules Can Qualify Or Disqualify Someone From Receiving An SEC Whistleblower Award
In addition to the basic requirements, there are many rules that someone must satisfy to be eligible for an SEC whistleblower award. There are also a lot of rules that could disqualify someone from receiving an SEC whistleblower reward. Not all of these rules will apply to every SEC whistleblower; it depends on the facts and circumstances of each individual whistleblower’s particular case.
As you might imagine, there are too many SEC whistleblower rules to go into here. If you have questions about whether you may be eligible to receive an SEC whistleblower award, you should consider consulting with an experienced SEC whistleblower lawyer.