A U.S. Securities and Exchange Commission (SEC) whistleblower is an individual who comes forward with a tip, complaint or referral regarding an alleged securities law violation that has occurred, is ongoing or is about to occur. The SEC Whistleblower Program offers monetary rewards and protections from retaliation to whistleblowers. If you wish to submit a claim, contact a SEC whistleblower attorney at Youman & Caputo, LLC for assistance collecting necessary evidence.
Timely, Specific and Credible Information
In general, the SEC wants information that is timely, specific and credible, meaning you should not wait too long before reporting your suspicions regarding a securities law violation. If the incident took place a long time ago, the case could be harder for the SEC to investigate and the SEC may be less likely to open an investigation.
The evidence you present should be as specific as possible to improve the odds of the SEC forwarding the case to the Enforcement Division for a formal investigation. Provide as much detail as you can about what happened, who was involved, what kind of violation occurred and the type of investment product concerned.
Detailed whistleblower tips have more credibility with the SEC. For example, specific names, details of particular transactions, and relevant non-public materials should be provided. Specific details will make a tip more likely that the Commission will open an investigation.
Many types of documents can provide evidence of potential securities law violations during a whistleblower case. Collect any documents or records that are relevant to the tip. Any written materials or communications that may be pertinent to the case should be submitted with the claim to the SEC. The Commission will take these documents under review as part of its investigative process.
Documentation to support an SEC whistleblower claim may include:
- Financial documents
- Accounting statements or ledgers
- Contracts and agreements
- Securities transaction records
- Market analyses and data
- Trading volumes
- Prices movements
- Company documents or internal memos
- Regulatory filings
- Work documents
- Emails or memos
- Text messages
- Transcripts of conversations
- Phone records
Any documents that may show irregularities, misrepresentations or actions taken that violate federal securities laws should be included in a whistleblower case. Documents that provide context for the issue involved can also help the SEC understand the full picture.
An Attorney Can Help With Your Claim
Many types of evidence may be available to corroborate a whistleblower’s claim, giving it more credibility and improving the chances of the SEC choosing to open a formal investigation. For assistance with an SEC whistleblower claim, including collecting and presenting evidence, contact an attorney at Youman & Caputo, LLC. You can also review the SEC’s enforcement results for the 2023 fiscal year, as they have now been released.