Eccleston Law Actively Seeking Whistleblowers the SEC Whistleblower Fund Tops $450 Million
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 changed a number of things on Wall Street, including adding certain incentives and protections for whistleblowers in securities cases.
Namely, Section 21F of the Act provides that the SEC must pay an award of between 10% to 30% to any whistleblower that voluntarily provides the SEC with original information that leads to a successful enforcement action by the SEC that results in monetary sanctions of more than $1,000,000 that are actually collected.
The SEC has proposed rules for the whistleblower program, and the comment period ends December 17th. The SEC is actively promoting this new program to incentivize individuals with inside knowledge to come forward and help the SEC identify and prosecute persons who have violated the securities laws. The SEC recently reported that the Investor Protection Fund from which these awards will be paid has topped $450 million.
Eccleston Law is actively seeking individuals have knowledge of what they believe to be securities violations. If you have knowledge of what you believe to be a securities violation, you may be entitled to a whistleblower award. Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your matter. All consultations will be kept anonymous and in strict confidence.
FinancialCounsel.com, hosted by James J. Eccleston, is a companion website to this blog, along with EcclestonLaw.com. It contains complementary material of general interest to investors and financial services professionals. Investors will find material on securities arbitration to recover investment losses; industry and financial markets intelligence; and strategies for estate planning. Professionals have access to material on broker/adviser registration, regulation, compliance and disciplinary proceedings; industry and financial markets intelligence; strategies for estate planning; and broker/adviser employment litigation and injunctions, including defamation and non-competition/solicitation issues. 
