It is very difficult to estimate when the SEC will act on a whistleblower’s information. Over 18,000 tips have been filed with the Whistleblower Office since 2011. Considering the volume of tips and the limited nature of the SEC’s resources, your tip must grab the whistleblower office’s attention to ensure that it is acted upon timely (if at all).
As a practical matter, you are more likely to get your information reviewed and acted upon if you have a lawyer advocating for you. Whistleblower lawyers, especially with experience in SEC whistleblower claims, can help you frame the information in a way that will be more likely to get the SEC’s attention. You can help this process by providing your lawyer with specific and credible information that will act as a clear roadmap of the securities-law violation(s).
Prior to submitting a claim, whistleblowers should consult with an experienced attorney to determine how best to present their TCR to the SEC.
To learn more about the SEC Whistleblower Program, download the eBook SEC Whistleblower Program: Tips from SEC Whistleblower Attorneys to Maximize an SEC Whistleblower Award.
Chapter 1 - What is the SEC Whistleblower Program?
Chapter 6- Who Is An Eligible SEC Whistleblower?