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 a New York City whistleblower reward from the SEC.
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
An Experienced SEC Whistleblower Lawyer
The founder of The Pickholz Law Offices, Jason R. Pickholz, was the first SEC whistleblower lawyer ever to win an award on appeal to the full Commission in Washington, D.C. This groundbreaking achievement was recognized as a milestone of the SEC whistleblower program by Inside Counsel magazine.
Mr. Pickholz is also the co-author of the two-volume book Securities Crimes, and is a Fellow of The New York Bar Foundation. The Fellows are limited to 1% of the 74,000 lawyers in the New York State Bar Association. Fellows are nominated by a Director or member of the Fellows, and are elected by its full Board of Directors. You can click here if you are interested in learning more about the Fellows.
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 one hour conversation 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.
The above information is not and should not be construed as providing legal advice. It is not and should never be considered as a substitute for consulting with your own attorney. The use of this web site or this page does not constitute or create any attorney-client, fiduciary, or confidential relationship between The Pickholz Law Offices LLC and anyone using this web site, or anyone else. The information contained on this website is for informational purposes only. The content of this web site may not reflect current developments. Prior results do not guarantee a similar outcome. Results of prior cases or matters contained on this web site are not indicative of future results or outcomes, and should not be taken as a prediction, promise, or guarantee of any future result or outcome. No one who accesses this web site should act or refrain from acting based on anything contained on this web site. For additional terms and conditions governing the use of this web site, please click on the “disclaimer” link at the bottom of this page or click here.