SEC Whistleblower Reward
Learn What it Takes to Secure a Monetary Award Under the SEC Whistleblower Program
Individuals who report violations of federal securities laws to the U.S. Securities and Exchange Commission (SEC) can receive a percentage of the monetary sanctions collected when their reports lead to successful enforcement actions. Our lawyers help whistleblowers report all types of securities violations to the SEC, and we provide representation throughout the whistleblower process. This includes working with the SEC to secure monetary compensation on behalf of our clients when they become eligible for an award.
We have extensive experience working with the SEC Whistleblower Office on behalf of our clients. If you believe you may be eligible to submit a whistleblower tip and seek an award, our experienced SEC whistleblower attorneys can explain everything you need to know. If you decide to come forward, we can handle the entire process for you while keeping you fully informed and protecting your identity.
Seeking a Monetary Award from the SEC Office of the Whistleblower
What do you need to know about seeking a monetary award from the SEC Office of the Whistleblower? Here are some key considerations for prospective SEC whistleblowers:
1. Whistleblowers Must Have Original Information About Possible Securities Law Violations
To come forward as an SEC whistleblower, you must have original and credible information about one or more potential securities law violations. The SEC accepts eligible whistleblower complaints involving numerous alleged statutory and regulatory offenses, including:
- Dodd-Frank Wall Street Report and Consumer Protection Act (Dodd-Frank Act) violations
- Foreign Corrupt Practices Act (FCPA) violations
- Investment Company Act violations
- Sarbanes-Oxley Act (SOX) violations
- Securities Act and Securities Exchange Act violations
These are just examples. Ultimately, if you have information about any possible securities violations, it will be worth discussing your options with an experienced SEC whistleblower attorney. Our law firm represents both domestic and international whistleblowers; and, regardless of where you are located, we can help you make an informed decision about reporting alleged fraud or other alleged wrongdoing to the SEC.
2. Whistleblowers Must Come Forward Through the Appropriate Means
To qualify for monetary awards, whistleblowers must come forward through the appropriate means. If your employer has internal reporting mechanisms or internal compliance systems that require confidentiality, you should consult with a whistleblower attorney before you make any decisions about what to do with the information in your possession. There are strict requirements for serving as an SEC whistleblower, and the SEC will only pay whistleblower awards to those who come forward correctly.
3. The SEC Must Investigate the Whistleblower’s Allegations of Corporate Fraud or Investment Fraud
While the SEC has a strong law enforcement interest in holding securities law violators accountable, it can only work with the resources it has available. To qualify for a whistleblower award, the SEC must choose to investigate based on the whistleblower information you provide. If you engage our law firm to represent you, we will use our knowledge of the federal securities laws and the SEC’s policies for investigating whistleblower claims to help maximize the likelihood of further investigation.
If the SEC decides to investigate the level of ongoing assistance that a whistleblower provides during the SEC’s investigation will play a major role in determining the whistleblower’s award percentage (more on this below). This is designed to incentivize whistleblowers to provide as much assistance as possible.
4. The Whistleblower’s Complaint Must Lead to a Successful Enforcement Action
To receive a monetary award, an eligible whistleblower must provide qualifying information that leads to a successful enforcement action. This could include the recovery of harmed investors’ funds and/or monetary sanctions paid to the federal government. In all cases, successful whistleblowers are entitled to a percentage of the money collected, with SEC whistleblower awards being calculated as between 10% and 30% of the government’s recovery in most cases.
5. Whistleblower Awards Are Paid Out of the SEC’s Investor Protection Fund
In all cases, whistleblower awards are paid out of the SEC’s Investor Protection Fund. Crucially, the SEC is one of the few federal agencies that will pay awards to anonymous whistleblowers. While the SEC will strictly protect a whistleblower’s identity, whistleblowers who engage legal representation have the option of coming forward anonymously.
Examples of SEC Awards Paid to Securities Fraud Whistleblowers
As we said above, the SEC is responsible for paying some of the largest whistleblower awards of all time, and many of the SEC’s largest awards have come relatively recently in the SEC program’s history. Here are some examples based on SEC reports:
- $50 million paid in 2026
- $98 million paid in 2024
- $82 million paid in 2024
- $104 million paid in 2023
- $37 million paid in 2022
- $110 million paid in 2021
- $50 million paid in 2021
- $114 million paid in 2020
Generally, the largest SEC whistleblower awards are reserved for cases in which whistleblowers provide information based on independent knowledge that leads to substantial monetary sanctions following in-depth investigations in which whistleblowers are materially involved. If you are interested in seeking the maximum award available based on the information you are prepared to disclose, our attorneys can use their experience to assist you with maximizing your award eligibility.
Are You Eligible to Seek an SEC Whistleblower Reward?
To find out if you are eligible to seek an SEC whistleblower reward, you should consult with an experienced federal whistleblower attorney promptly. While legal representation is not required, an experienced attorney will be able to assess your eligibility and ensure that you do everything necessary to qualify for the protections and compensation that are available. Our attorneys represent SEC whistleblowers at no out-of-pocket cost; and, whether you decide to come forward confidentially or anonymously, we will protect your identity throughout the process.
FAQs: U.S. Securities and Exchange Commission (SEC) Whistleblower Award Eligibility
Who can serve as an SEC whistleblower?
Both U.S. citizens and foreign nationals can serve as U.S. Securities and Exchange Commission (SEC) whistleblowers, and the SEC works with whistleblowers living in the U.S. and abroad. This includes compliance personnel and other insiders as well as investors and other individuals who have independent knowledge of civil or criminal wrongdoing. Regardless of your individual circumstances, if you have first-hand knowledge of a violation of any federal securities law or regulation, it will be worth speaking with an experienced SEC whistleblower attorney who can help you make informed decisions about your next steps.
What are the requirements for seeking an SEC whistleblower award?
The requirements for seeking an SEC whistleblower award include: (i) coming forward through the appropriate means; (ii) providing the SEC with original information obtained first-hand or through independent analysis; (iii) assisting the SEC with pursuing a successful enforcement action. But, there is a lot to unpack with each of these three requirements, and this makes it important to consult with an experienced whistleblower lawyer who can assess your eligibility and guide you forward appropriately.
What evidence will I need to be able to provide as an SEC whistleblower?
You do not need to be able to provide any specific form or amount of evidence to serve as an SEC whistleblower. While financial statements, internal communications, and various other forms of internal records can all be useful, the key is being able to convince the SEC that further investigation is warranted. This is another area where an experienced whistleblower attorney will be able to assist you with making informed decisions.
What is a Notice of Covered Action in the context of an SEC enforcement action?
In the context of an SEC enforcement action, a Notice of Covered Action is an official communication from the SEC that indicates a whistleblower may be eligible to claim an award. Claiming an SEC whistleblower award is a process of its own. As discussed above, SEC whistleblower awards generally range from 10% to 30% of the monetary funds recovered. This is a huge range—and the difference between an award of 10% and an award of 30% could be millions, or even tens of millions, of dollars. When desired, we work with the SEC to seek to maximize our clients’ monetary awards.
Can joint whistleblowers receive SEC whistleblower awards?
Yes, multiple individuals can come forward as joint whistleblowers in some cases—and, in these cases, each individual may be entitled to receive a portion of any award issued. The total overall award amount will still be between 10% and 30% of the government’s monetary recovery—and this amount will be split between the joint whistleblowers.
We Represent SEC Whistleblowers Nationwide | Call for a Free Consultation
If you would like to know more about seeking a whistleblower award from the SEC, we encourage you to contact us promptly for a free, no-obligation consultation. To speak with one of our senior federal whistleblower attorneys in strict confidence as soon as possible, call 866-320-3959 or tell us how we can reach you online now.