NY SEC Whistleblower Reward

Potential whistleblowers often are not even aware that they could be eligible for an NY SEC whistleblower reward.   Some of the confusion may be because an NY SEC whistleblower reward is not granted by the State of New York or New York City.  These awards are granted by the U.S. Securities and Exchange Commission (“SEC”).

NY SEC whistleblower reward

                           The SEC shield

The SEC is a Federal agency.  It has jurisdiction throughout the country.  Consequently, an SEC whistleblower does not have to live or work in New York to be eligible for an SEC whistleblower award.

In fact, under the rules of the SEC whistleblower program, SEC whistleblowers do not even have to live or work in the United States.  Anyone who has information about a corporate or securities fraud at any U.S. public company or U.S. financial institution can report that information to the SEC and become an SEC whistleblower.

When people refer to an NY SEC whistleblower reward, they probably just mean an SEC whistleblower award that is granted to someone living or working in New York.

Three Important Requirements To Be Eligible For An SEC Whistleblower Reward

There are a lot of rules about SEC whistleblower awards, including rules that could disqualify someone from receiving an award.  Those rules can get fairly complicated without the guidance of an experienced SEC whistleblower lawyer to guide you.  However, there are three things that are worth noting at the outset.

First, to qualify for an SEC whistleblower award, an individual must voluntarily provide original information to the SEC about a fraud at a public company, or about a securities fraud or violation.

Second, simply providing information does not automatically qualify someone to receive an SEC whistleblower reward.  The SEC must actually use the some or all of the information provided to it by the whistleblower.  In practical terms, this means that the whistleblower’s information must lead to the SEC initiating an investigation, or it must contribute in a meaningful way to an existing investigation that the SEC is already conducting.

Furthermore, the SEC’s investigation must result in a “successful action.”  Typically this means that the SEC must reach a settlement with the wrongdoer(s); receive a judgment against the transgressors from a federal court; or obtain an order against the perpetrators by an SEC administrative law judge.

Third, in addition to achieving a successful outcome to its investigation, the SEC must obtain more than $1 million in the settlement or action, and any related actions, in order for an award to be available to potential SEC whistleblowers.

The Pickholz Law Offices – A Dedicated SEC Whistleblower Law Firm

The Pickholz Law Offices was founded with the express purpose of representing SEC whistleblowers, and was one of the first law firms to win an SEC whistleblower award for a client.

The Firm’s founder, 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 one of the five milestones of the SEC whistleblower program by Inside Counsel magazine.

The Pickholz Law Offices’ clients have included employees, officers, directors, and others in SEC whistleblower cases involving financial institutions and public companies listed in the Fortune Top 10, Top 20, Top 50, Top 100, Top 500, and the Forbes Global 2000.

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.