Insights for SEC Whistleblowers

In the financial world, not everyone plays by the rules. Insider trading might not hit the front page of the newspapers as much as other instances of corruption, but this doesn’t mean financial laws are rarely violated. The Securities Exchange Commission likely would prosecute more people for violations if it knew about their alleged illegalities.

Someone on the inside usually has to come forward for the SEC to learn about wrongdoings. Becoming a whistleblower, however, seems daunting. Working with an SEC whistleblower lawyer, someone can report corruption while garnering protections against retaliation.

Doing the right thing isn’t the only motivation for blowing the whistle. The SEC has a program in place to provide compensation for those assisting in the recovery of illegally procured gains. Working with an attorney could help with the reward recovery process.

Regardless of the potential for a reward, some still don’t wish to come forward. The would-be whistleblowers worry about the reveal of their identities. Consider this another reason why working with an SEC whistleblower attorney. The attorney represents the client and protects his/her identity. SEC tips for effective whistleblowing might not suggest hiring an attorney, but retaining a lawyer could be a wise move.

An attorney doesn’t work alone when trying to protect an employee from retaliation. The SEC further developed an “anti-retaliation authority” intended to protect anyone who shows the courage to come forward and report corruption. The SEC understands people take career and personal risks when reporting about the wrongdoings of powerful corporations and their executives. A willingness to protect a whistleblower shows the SEC understands the dangers and works to prevent harm from befalling anyone. Still, seeking representation from an experienced attorney further adds a layer of protection.

Whistleblowers may also wish to be duly compensated for their risks. The SEC may award a percentage of recovered assets in the aftermath of a successful whistleblower case. The average person might prove to be a valuable citizen when the time comes to pull away the covers to prove criminal activities. The concerned citizen likely also wants whatever financial compensation he/she deserves. A whistleblower attorney could assist in making sure a client receives deserved rewards. For many, this might be what matters the most.