Our attorneys represent SEC whistleblowers in the United States and around the world. No matter where you’re located, if you have knowledge of violations of the federal securities laws, such as a Ponzi scheme, market manipulation, or false corporate filing, we may be able to assist you in anonymously submitting a whistleblower tip to the Securities and Exchange Commission (SEC), which can help the public and earn you financial compensation.
Our attorneys, Scott Silver, a former Wall Street securities defense attorney, and David R. Chase, a former SEC prosecutor, have formed a strategic alliance to represent SEC whistleblowers.
Most whistleblower tips submitted to the SEC are never investigated, and there are rules that must be followed to submit a whistleblower tip and apply for a financial award. Scott and David’s extensive experience and perspective bring excellent value to our clients. Having them represent you may increase the odds of having your tip investigated and of receiving the maximum award.
The SEC Whistleblower ProgramThe SEC whistleblower program was created by Congress in 2010 with the passing of the Dodd-Frank Wall Street Reform and Consumer Protection Act law. The intention of the program is to give financial incentive to individuals to come forward with information about securities laws violations.
To be eligible to receive a whistleblower award from the SEC, you must in writing provide the Commission with original, non-public information or analysis on possible securities law violations. Your information must be provided voluntarily and be timely, credible, and material.
You may remain anonymous if you have an attorney submit everything for you. If a tip is investigated and the SEC collects a sanction of at least $1M, the whistleblower may receive between 10% and 30% of the money collected.
To date, the SEC has awarded over $2 billion to whistleblowers. In 2023, the Securities and Exchange Commission announced its largest award ever, almost $279 million, which the SEC said went to a whistleblower whose “information and assistance led to the successful enforcement of SEC and related actions.”
Who Can Be A SEC Whistleblower?In our experience, most whistleblowers are motivated first and foremost by a desire to get justice and stop others from being harmed. The potential to receive a financial award is often not their primary concern.
Many SEC whistleblowers are insiders who work for a company that is engaged in misconduct. After internally reporting their concerns and not seeing improvement, they feel they have no choice but to go to the authorities to stop the harm being done by their company.
Professional Short SellersProfessional short sellers, who bet that a company’s stock will decline in price, may in their research find that a company is not only overvalued, but also are violating federal securities laws. Though they are not insiders at the companies they sell short, they may conduct an original analysis that makes for a compelling SEC whistleblower tip, prompts an SEC investigation, and results in an award paid to the whistleblowing short seller.
Some view this as controversial, since the whistleblowing short seller could “double dip” by profiting from their short trade against a company and be paid a percentage of the sanction the SEC levies against the company. Scott Silver and David Chase wrote an article for the Daily Business Review in defense of SEC whistleblower short sellers, stating that they “deserve to have their cake and eat it too.”
In their article, Scott and David note that short sellers can amplify the limited resources of the SEC and reveal fraud that would otherwise not be brought to light.
Securities Industry ProfessionalsDue to their knowledge of markets and positions, professionals in the securities industry may be uniquely aware of information that could lead to a successful SEC whistleblower tip. Securities industry professionals may become aware of stock manipulation, accounting fraud, insider trading, or other violations at the company they work for or at a competing company.
Securities industry professionals may be the first to learn of a fraud, so they have the potential to be the first to report their findings to the SEC, making them the source of original information that could prompt an investigation and sanction that earns them a financial award.
Victims Of Fraud May Be SEC WhistleblowersOne does not need to be an insider or industry professional to be a whistleblower. Anyone who submits original information or analysis that leads the SEC to investigate violations of federal securities laws could be considered a whistleblower. A victim of fraud, including investors in a Ponzi scheme or hedge fund that engaged in misconduct, may have original information about the fraud that the government is not aware of, and can submit what they know to the SEC.
Whistleblower ProtectionsWhistleblowers may submit tips to the SEC anonymously through an attorney. The Commission does not publicly reveal any identifying information about whistleblowers.
SEC whistleblowers are also protected against retaliation, including being demoted, discharged, harassed, or discriminated against. To qualify for whistleblower protections, the whistleblower has to submit their tip to the SEC in writing, but they don’t have to qualify for an award.
Contact Our SEC Whistleblower AttorneysIf you work at a company that is violating federal securities laws with misconduct such as bribes paid to foreign officials, accounting fraud, or false filings, or if you invested in a fraudulent scheme such as a Ponzi Scheme, please contact us today. We represent SEC whistleblowers across the United States and throughout the world. David R. Chase, Esq. is a former SEC Enforcement Attorney who understands how to maximize the chances of having your tip investigated by the SEC. Scott L. Silver, Esq. authored a widely-acclaimed outline on the Whistleblower Program, which can be downloaded for free. Call us at (800) 975-4345 or contact us through our online form for a free and confidential consultation.
We represent SEC whistleblowers around the world and in all 50 states.
Scott Silver and David Chase are leading investor advocates with a proven track record of recovering money for violations of the federal securities laws. Our team of attorneys, forensic accountants and investigators are singularly focused on representing SEC whistleblowers. Scott Silver currently serves as the co-chair of the Securities and Financial Fraud Group of the American Trial Lawyer’s Association and is a PIABA board member. PIABA’s mission is to protect investors. David Chase is a former SEC prosecutor and law school professor teaching securities regulation. While past experience is no guarantee of future success, our attorney’s are generally regarded as some of the top sec whistleblowers in the country and are routinely asked to speak at industry conferences, comment for major news organizations, and teach at various law schools.