Today is a big day for corporate fraud detection. The Security and Exchange Commission’s (SEC) Final Rules implementing the whistleblower provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act go into effect. The SEC has simultaneously launched a new Office of the Whistleblower website today. This website will become a vital resource for whistleblowers and their counsel to navigate the SEC whistleblower process to make disclosures and claim an award. You can access the website at this link: https://www.sec.gov/whistleblower and you may review the 170 cases that are now eligible for an award at this link: https://www.sec.gov/about/offices/owb/owb-awards.shtml.
Why is the website so important? It can mean the difference between a whistleblower receiving or not receiving a financial award under Dodd-Frank. The SEC Whistleblower Office will publish a list of cases that the SEC considers “covered actions” under the Dodd-Frank. An individual then has ninety (90) calendar days from the date that “covered action” is posted to apply for an award from SEC Whistleblower Office. The application does not mean that a whistleblower will automatically receive an award, but if the whistleblower does not submit an application they will have no chance receiving an award.
The SEC listed 170 actions that are covered under the Dodd-Frank Act today. That means that the clock is rolling for whistleblowers to submit their form on those cases. The National Whistleblowers Center strongly encourages whistleblowers to check out this page so they do not miss their opportunity to apply for a financial reward.
The SEC Whistleblower Office website also allows individuals to submit a tip online, provides answers to frequently asked questions, and has a list of supplemental resources about Dodd-Frank whistleblower awards, including the Final Rules.
If you are looking for legal representation to assist you in reporting fraud to the SEC the National Whistleblowers Center’s sister organization the National Whistleblower Legal Defense and Education may be able to help you. You can submit a confidential intake form to the Attorney Referral Service by clicking here.
