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SEC Hands Out 36th Whistleblower Award, Worth $3.5 Million

The U.S. Securities and Exchange Commission (SEC) has handed out one of its largest awards under its whistleblower program, worth $3.5 million. The recipient was the 36th whistleblower to receive a monetary award under the program since the agency implemented it in 2011.

The recipient of the award provided information that led to a successful enforcement action. Since the SEC began handing out these whistleblower awards, it has offered a total of $135 million to the 36 whistleblowers who qualified. To be eligible, whistleblowers must provide the SEC with unique and specific information that leads to a successful enforcement action worth more than $1 million. The names of whistleblowers and any information about their cases are kept off public record.

How to file an SEC whistleblower claim

To qualify for an award under the SEC’s Office of the Whistleblower program, claimants must submit any information they have regarding securities violations directly to the commission. They may do this through the SEC’s online tip, complaint and referral portal or by mailing or faxing a Form TCR directly to the SEC’s Office of the Whistleblower headquarters in Washington, D.C.

All tips, complaints and referrals made to the SEC are completely confidential. The agency does not disclose any information you provide to third parties, except for in very limited circumstances. Additional confidentiality protections are available to whistleblowers under SEC laws, and employers may not retaliate against them in any way.

For further legal guidance if you have a tip you believe could lead to an SEC enforcement action, consult a knowledgeable Dallas attorney at Whistleblower Law for Managers.

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  • "Steve Kardell was terrific in representing me in some very adversarial discussions with Citigroup and also later represented me in my testimony before the Financial Crisis Inquiry Commission."  -Richard Bowen, Citigroup Whistleblower

  • "Never thought my career would end like it did after 30 years of service. I was part of the first round of the so called reduction of force. I asked myself how can I be part of this with 30 years of seniority. How did they pick these 90 plus employees? Now, the culture of this organization made you question every decision they made. It wasn’t what you knew it’s was a culture of who you know. Nonetheless, I did not accept their severance package. I immediately starting looking for an attorney who would take on my case. After the initial call to Steve I had hope again. He was open and honest about everything and reassured me he would do his best for me, and he did. I had an awesome outcome. Thanks Steve you’re the best."  -S.S.

  • "Reaching out to Steve Kardell was the best decision I made. His ability to provide immediate insight and direction was very powerful, and a huge relief during a very stressful time period. For anyone struggling with a whistleblower situation, I would highly recommend at least speaking with Steve. After a 10 minute call with him, I had a better understanding of what I was dealing with. Even better, he gave me some immediate hope. In the end Steve did a better job than I thought was possible. Steve was able to get in contact with people in my organization, that I didn’t have access to. Because of his years of experience, he already has contacts in many organizations in Dallas. The entire situation was handled peacefully. I was impressed by his ability to “keep the peace”–rather than creating a battle with the organization. The reason I didn’t reach out to a lawyer initially, was because I thought it would mean an immediate end to any hope of a positive relationship with the company. Steve was able to address my concerns, and in the end I was able to continue to work for them."  -KS

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