April 13, 2024

How Does the SEC Protect Whistleblowers?

People who have information regarding investment fraud and other securities violations can report their information to the U.S. Securities and Exchange Commission (SEC). In doing so, they become whistleblowers. 

The SEC recognizes that becoming a whistleblower is not without serious risks. Blowing the whistle puts the whistleblower at risk for retaliation, which can take several different forms including demotion, termination, harassment, and even reputational damage. 

The SEC has specific protections in place designed to protect whistleblowers from such retaliation. You can learn more about these protections by reading on.

Reporting Your Tip Anonymously

Did you know that you can report any tips you might have to the SEC anonymously? The SEC understands just how risky blowing the whistle can be for whistleblowers, and for this reason, they allow you to report your tips anonymously when you have legal representation. 

The SEC requires you to have an attorney because they must communicate with you in some way throughout the course of the investigation.Your lawyer can be that middleman and provide you with updates as they become available so you aren’t left wondering what is going on with the information you provided.

Taking Action Against Retaliation

The SEC expressly prohibits retaliation against whistleblowers, but that doesn’t always prevent it from happening. In an effort to further penalize fraudsters from retaliating, the SEC is prepared to impose sanctions against individuals and companies that engage in retaliatory action against whistleblowers. 

As a whistleblower, you will also have the opportunity to file a lawsuit against those who retaliated against you, which could result in reinstatement, an award of double back pay, and compensation for the other ways your life has been affected by the retaliation.

Meet with an SEC Whistleblower Lawyer

If you are interested in reporting a tip anonymously, or if you are a whistleblower that has been retaliated against, contact a qualified SEC whistleblower lawyer at Meissner Associates for help. You can schedule a confidential tip evaluation by filling out the secure contact form below or by giving our office a call at 1-866-764-3100.