SEC Whistleblower Protection NYC Can Count On
The SEC whistleblower program contains provisions for SEC whistleblower protection NYC employees, customers, and residents should be aware of. When Congress created the SEC whistleblower program, among other things it created a mandatory award program that provides monetary rewards to individuals who provide information to the SEC about securities frauds like insider trading, Ponzi schemes, false or misleading books and records, illegal payments to foreign officials to gain business opportunities in foreign countries, and other frauds. It also enacted a prohibition against employers retaliating against their employees for reporting frauds to the SEC.
Assuming all other requirements are met, if a whistleblower reports a fraud to the SEC, and if the SEC collects over $1 million in disgorgement, sanctions, and interest from the company or from the individuals who were responsible for the fraud, the SEC whistleblower will be entitled to receive a monetary reward. According to the Dodd-Frank Act, the SEC must give out that reward. The amount of the reward must be between 10% – 30% of the amount of money that the SEC collects based on the information that the whistleblower(s) provided.
To protect your right to receive an SEC whistleblower award, you must report your information in the manner that the SEC requires. If you are looking for SEC whistleblower protection NYC has a lot of law firms that claim that they can assist you.
The Pickholz Law Offices cannot comment on the quality of SEC whistleblower protection NYC lawyers in other law firms claim to provide. What we can tell you is that Jason R. Pickholz, the founder of The Pickholz Law Offices, is one of the first lawyers ever to win an SEC whistleblower award for a client. (See the official SEC Award here.)
Mr. Pickholz is also the first lawyer ever to successfully convince the Securities and Exchange Commission to grant his client an SEC whistleblower award despite an initial recommendation by the SEC staff to deny any award. Inside Counsel Magazine named this as one of the “Five milestones in the Dodd-Frank whistleblower reward program”. For related articles click here (Boston Business Journal) and here (NY Times). In addition, Mr. Pickholz is a Fellow of the New York Bar Foundation, an elected honor that is limited to 1% of the New York State Bar Association membership.
For additional information about The Pickholz Law Offices’ SEC whistleblower practice, or about the SEC whistleblower reward program, please click on the SEC Whistleblowers link in the right margin.