The SEC Whistleblower Program: Common Questions To Ask

By Bob Oliver

The SEC Whistleblower Program, for those who do not know, has been in effect since 2010. The reason why it came into being was the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was established during the same year. Even though this is a great perk for any of these people to have, the truth of the matter is that there may still be confusion related to this topic. In order to clear this very confusion, here are a few questions worth bringing up.

"Are there specific locations for the SEC Whistleblower Program?" This program can be applied to a number of industries, not to mention various situations. For example, someone may have paid too much on their Medicare without being notified. Someone else may have become part of a Ponzi scheme without truly knowing it. These are just a few examples of situations which can be helped if the program in question is put into practice.

"What are the qualifications for the program?" If you're going to get involved with the SEC Whistleblower Program, there are a few preliminary points to mention. To start off - and authorities the likes of W.A.F. can tell you the same - the fraud-related information you provide must be original. If it has been submitted by someone else beforehand, you will not be able to get involved. In addition, you must stay in touch with the proper authorities, lawyers being especially required.

"What are the perks of the SEC Whistleblower Program?" If you want to talk about the perks that this program has, there are a few to make note of. When a case is finished, you - as the individual in this case - are eligible to receive anywhere from 15% to 30% of the monetary sanction. In addition, if you are fearful of losing your job due to this level of involvement, you shouldn't be. There are laws set in place to protect those who collect information related to fraud.

Hopefully these points have helped you better understand what the SEC Whistleblower Program is all about. To say that these details matter would be an understatement, especially when you consider the fields in which this program can be used. Whistleblowers should not fear bringing attention to violations of the law. If anything, the ability to do so will only reward them in the long term, which means that this will be all the more rewarding.

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For more information regarding the SEC Whistleblower Program, in general, do not hesitate to get in touch with Whistleblowers Against Fraud.. This article, The SEC Whistleblower Program: Common Questions To Ask is released under a creative commons attribution license.