Financial analysts are a select group of professionals that often have original information from their own independent analysis of securities violations.  As such, the new SEC Whistleblower Reward Program has been expanded to encourage financial analysts and money managers to become whistleblowers.  The new law and SEC rules include expanded economic incentives and protections that should encourage financial analysts and money managers to blow the whistle on significant fraud schemes.

If you are aware of securities fraud, SEC violations, or other financial fraud, feel free to contact SEC Financial Analyst Whistleblower Reward Lawyer and Money Manager Whistleblower Reward Lawyer Jason Coomer via e-mail message or use our submission form.

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The Securities and Exchange Commission (SEC) has announced that the "new SEC whistleblower program, implemented under Section 922 of the Dodd-Frank Act, is primarily intended to reward individuals who act early to expose violations and who provide significant evidence that helps the SEC bring successful cases."  "To be considered for an award, the SEC’s rules require that a whistleblower must voluntarily provide the SEC with original information that leads to the successful enforcement by the SEC of a federal court or administrative action in which the SEC obtains monetary sanctions totaling more than $1 million." 

The new SEC Whistleblower Rules have been published on the SEC website.

Increased Economic Incentives for Financial Analyst Whistleblowers, Expanded Definition of Monetary Sanctions for Calculation of Rewards for Financial Analyst Whistleblowers, and Expanded SEC Financial Analyst Whistleblower Rewards

Under the SEC Whistleblower Program, Whistleblowers entitled to recovery ranging from 10 to 30% of monetary sanctions.  These monetary sanctions are much more far reaching than prior Insider Trading Awards and include not only SEC penalties, but also disgorgements. These disgorgements can be the largest part of the potential recovery and greatly increase the economic incentive for the potential whistleblower.

A financial disgorgement is a repayment of ill-gotten gains that is imposed on wrong-doers by the courts. Thus, funds that were received through illegal or unethical business transactions are disgorged, or paid back, with interest to those affected by the action. Disgorgement is a remedial civil action, rather than a punitive civil action. As applied to the SEC violations, individuals or companies that violate SEC regulations are typically required to pay both civil money penalties and disgorgement. Civil money penalties are punitive, while disgorgement is about paying back profits made from those actions that violated the SEC's regulations.  In some instances, disgorgement payments are not only demanded of those who violate securities regulations. Anyone profiting from illegal or unethical activities may be civilly required to disgorge their profits.

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Expanded Definition of Original Information to Include Independent Analysis

The definition of "original information" in the SEC Whistleblower Reward Program, has been expanded from prior whistleblower reward laws to include "independent analysis".   This new expanded definition includes a whistleblower’s independent analysis or own examination and evaluation of publicly available information, if and only if that whistleblower's examination, evaluation, and analysis is determined by the SEC to provide vital assistance to the SEC staff in understanding and identifying complex fraud schemes and violations of securities law.

This expanded definition of "original information" does provide an opportunity for financial analysts, money managers, and high end advanced whistleblower to use their expertise and own independent analysis to blow the whistle on large fraud schemes and potentially make large recoveries, however, it is important to realize that these forms of whistleblower awards are new and it is not fully understood how the SEC will apply financial awards based on independent analysis.  As such, for the protection of high end financial analyst whistleblowers, money manager whistleblowers, and investors, it may be best to report the fraud through a SEC Whistleblower Reward Program Lawyer that can protect the identity of the whistleblower until it can be determined what type of an award may be offered.

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The U.S. Securities and Exchange Commission (frequently abbreviated SEC) is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States. The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

The SEC was created in 1934 and is responsible for administering eight major laws that govern the securities industry. The major securities laws are: the Securities Act of 1933, the Securities Exchange Act of 1934, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes-Oxley Act of 2002, the Credit Rating Agency Reform Act of 2006, and the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The Securities Act of 1933 is often referred to as the "truth in securities" law and has two basic objectives: 1) require that investors receive financial and other significant information concerning securities being offered for public sale; and 2) prohibit deceit, misrepresentations, and other fraud in the sale of securities.

The Securities Exchange Act of 1934 included an Anti-Fraud Provision in Section 10b and the SEC promulgated Rule 10b-5 under that section.  These Anti-Fraud Provisions are the principal statutory weapons against securities fraud and most regulations flow from these provisions. Rule 10b-5 prohibits the use of any "device, scheme, or artifice to defraud," and creates liability for any misstatement or omission of a material fact, or one that investors would think was important to their decision to buy or sell the stock.  The rule has been the subject of extensive litigation including insider trading, market manipulation, fraud in connection with public offerings and takeovers, and fraud in connection with dealings with customers.

Dodd-Frank Wall Street Reform and Consumer Protection Act Created the SEC Incentive Program Allowing New Whistleblower Bounty Provisions that All Financial Fraud Whistleblowers, Stimulus Fraud Whistleblowers, and SEC Violation Whistleblowers to Collect Rewards for SEC Bounty Claims

In July 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law which includes significant new financial fraud bounty whistleblower provisions.  These provisions create economic incentives for SEC violation whistleblowers and other financial fraud whistleblowers with "original information" of SEC violations and financial fraud to blow the on large scale financial fraud and SEC violations. 

These SEC bounty claims must be brought voluntarily under the SEC Bounty Programs by one or more individuals.  The whistleblower or whistleblowers must be a natural person or natural persons, companies or other entity is not eligible to be financial fraud bounty whistleblowers.  Successful SEC violation bounty whistleblowers and financial fraud whistleblowers can collect financial rewards for whistleblower bounty actions that result in the imposition of monetary sanctions of greater than $1 million dollars.  This new financial fraud SEC bounty program is called the "Securities Whistleblower Incentives and Protection". 

Through SEC Whistleblower Bounty Actions the SEC will award between ten percent and thirty percent of the money collected to a qualified whistleblower who voluntarily provides the SEC with original information about a violation of the securities laws that leads to a successful enforcement of an action brought by the SEC that results in monetary sanctions exceeding $1,000,000.00.  

So long as the financial fraud whistleblower or financial fraud whistleblowers base their claims on "original information", any person (not just an employee or insider) may file a SEC financial fraud bounty claim.  Further, if the financial fraud whistleblower is represented by an attorney, the whistleblower may file the financial fraud bounty claim anonymously.  However, before the financial fraud bounty award is paid, the whistleblower's identity shall be revealed to the SEC and SEC shall be provided information about the whistleblower that it requests.

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If you are aware of a large investment company, hedge fund, bank, financial institution, broker, investor, or other large, that is committing SEC violations or is defrauding investors, please feel free to contact Texas Financial Analyst Fraud Whistleblower Reward Lawyer Jason Coomer. 

As a Financial Analyst Whistleblower Reward Lawyer, Confidential Financial Analyst Whistleblower Reward Lawyer, and SEC Violation Whistleblower Reward Lawyer, he works with other powerful financial analyst whistleblower reward lawyers that handle large Securities Fraud Whistleblower Reward Lawsuits, Qui Tam False Claims Act Lawsuits, and other Financial Fraud Lawsuits.  He works with San Antonio Financial Analyst Whistleblower Reward Lawyers, Dallas Financial Analyst Whistleblower Reward Lawyers, Wall Street Confidential Financial Analyst Whistleblower Reward Lawyers, Houston SEC Violation Money Manager Whistleblower Reward Lawyers, Chicago SEC Violation Reward Lawyers, Dallas Financial Analyst Whistleblower Lawyers, and other Financial Fraud Whistleblower Lawyers throughout the United States and the World to blow the whistle on fraud. 

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by Texas Financial Analyst Whistleblower Reward Lawyer Jason Coomer

It is extremely important that Financial Analyst Whistleblowers, Money Manager Whistleblowers, and High-end Investment Whistleblowers continue to expose investment fraud, insider trading, Ponzi scheme, retirement fund fraud, securities fraud, and other unlawful and illegal practices that threaten the integrity of Wall Street and the securities markets.  

If you are aware of securities fraud, SEC violations, or other financial fraud, feel free to contact SEC Financial Analyst Whistleblower Reward Lawyer and Money Manager Whistleblower Reward Lawyer Jason Coomer via e-mail message or use our submission form.