If you’re an employee at a U.S. publicly traded company and have information regarding fraud or violations, you might be entitled to an award and protection for your tip under the SEC Whistleblower Program – regardless of nationality and international residence.

• What is the SEC Whistleblower Program?

  Established in 2010 under Dodd-Frank, the SEC Whistleblower Program offers monetary awards to anyone — regardless of nationality —whose tip leads to a successful enforcement action exceeding $1 million in sanctions.

Our firm has a long history of successfully representing whistleblowers, including an anonymous whistleblower who received $125 million in awards and whose disclosures have recovered over $1.5 billion in recouped funds for the government.

Our SEC practice is led by former SEC Commissioner Allison Lee and former SEC Enforcement Attorney Andrew Feller who have been instrumental in crafting the laws that protect and reward whistleblowers who report fraud and violations of the Securities Exchange Act (“Exchange Act”).

If you’re seeking top legal representation, there’s no group more experienced than this. Get in touch with us today for a free and confidential consultation. There is absolutely no fee unless we take you on as a client and obtain an award from the SEC.

Our SEC Whistleblower Practice

Securities fraud takes many forms, and our attorneys have represented whistleblowers across the full spectrum. The most common cases involve market manipulation, offering fraud, crypto asset violations, and false corporate disclosures.

But we also handle cases involving insider trading, Ponzi and pyramid schemes, broker-dealer misconduct (churning, unauthorized trading, cherry-picking), bribery, conflicts of interest, and regulatory violations ranging from registration failures to cybersecurity lapses.

Ready to Submit a Tip?

If you have information about securities violations, reach out for a free, confidential consultation. We work on contingency, so you pay nothing unless we secure an award.

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Our SEC Attorneys

Our roster of distinguished SEC alumni and top whistleblower attorneys provides unmatched insight and positions us as the most experienced choice for your securities whistleblower case, no matter how complex the scheme or violation is.

• 

  Andrew Feller

  Sr. Special Counsel

  Former SEC Senior Counsel in the Division of Enforcement

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• 

  Stephen M. Kohn

  Chief Supervising Attorney

  Stephen M. Kohn is one of the nation’s leading whistleblower attorneys.

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• 

  Allison H. Lee

  Securities, Commodities and FCPA Expert

  Former SEC Commissioner and Chair

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Why Choose Us to Represent You?

• Decades at the SEC and CFTC — Our co-chairs bring over 30 years of combined experience as securities and commodities enforcement attorneys, including senior roles at the SEC. That insider perspective means we understand exactly what regulators look for—and how to position your tip for maximum impact.
• We Know the Playbook — Having worked within the government’s whistleblower programs, we understand the procedural nuances, evidentiary standards, and market dynamics that determine whether a case moves forward. That knowledge works directly in your favor.
• Recognized Voices in Financial Regulation — Our attorneys are established authorities in securities and commodities law, with longstanding relationships across the regulatory landscape. We use that credibility to advocate effectively and help clients secure the awards they deserve.
• SEC Rulemaking — Our attorneys actively shaped SEC whistleblower rules since 2010, securing key protections like NDA restrictions and expanded reward eligibility. We also successfully fought proposed caps on large awards (2018-20) and supported 2022 amendments for fairer multi-agency rewards.

Our SEC Whistleblower Cases

The SEC Whistleblower Program allows insiders to submit tips anonymously and ensure disclosures are handled confidentially. This makes it difficult to discuss our past cases.

What we can say is that we helped a client receive one of the ten largest whistleblower awards ever granted by the SEC. Currently, the top ten awards are for at least $30 million, including five for at least $50 million, and two that top $100 million.

SEC Whistleblower Program

Created by the Dodd-Frank Act in 2010, the SEC Whistleblower Program incentivizes whistleblowers to report specific, timely and credible information about potential federal securities laws violations.

If information leads to an SEC enforcement action where over $1 million in sanctions is ordered, the Commission is authorized to provide a monetary award to eligible individuals, regardless of their nationality or residence.

Overview of The SEC Whistleblower Program:

• Awards range from 10-30% of monetary sanctions collected in successful SEC enforcement actions exceeding $1 million. Whistleblowers may also qualify for awards from related actions by other authorities (e.g., DOJ criminal prosecutions).
• Eligibility requires three elements: (1) voluntarily providing information before any government request, (2) submitting original information derived from independent knowledge or analysis, and (3) information that leads to a successful enforcement action.
• Submissions must be made via Form TCR — either through the SEC’s online portal or by mail/fax — and signed under penalty of perjury. Even if you reported to another agency or the media, you must submit directly to the SEC to be eligible.
• Anonymous submissions are permitted, but you must be represented by an attorney who submits on your behalf and completes the required certification.
• The SEC protects whistleblower identities to the fullest extent possible, though disclosure may be required in certain legal proceedings.
• Internal reporting is optional — you can report to your company first but must submit to the SEC within 120 days to preserve your original reporting date and benefit from any company investigation that follows.
• Retaliation is prohibited under Dodd-Frank. This means employers cannot discharge, demote, suspend, harass, or discriminate against whistleblowers. Remedies include reinstatement, double back pay with interest, and attorneys’ fees.
• Award claims must be filed within 90 days of a Notice of Covered Action being posted. The SEC considers factors like significance of information, assistance provided, participation in internal compliance, and any culpability or reporting delays.
• Awards come from the Investor Protection Fund, funded entirely by sanctions paid by violators—not from recoveries owed to harmed investors.

The SEC Whistleblowing Process

A well-prepared submission improves your chances of the SEC acting on your tip and can increase your eventual award. The SEC whistleblower rules are unforgiving — one procedural misstep can cost you an award or prevent your case from being pursued at all.

How the SEC Whistleblower Process Works

1. Submit your tip — Report potential securities violations to the SEC via the online TCR Portal or by mail/fax. The SEC reviews all tips and may open an investigation if your information is credible and specific.
2. SEC takes action — If your tip leads to a successful enforcement action with over $1 million in sanctions, you may be eligible for an award. The SEC posts a public notice when a case reaches a final order.
3. Apply for your award — Within 90 days of the notice, submit Form WB-APP explaining your contribution. The SEC reviews your application and issues a decision, which you can appeal if denied.
4. Receive payment — Approved awards (10-30% of collected sanctions) are paid from the SEC’s Investor Protection Fund — not from recoveries owed to harmed investors.

Reporting Concerns of SEC Violations Internally

It’s important to note that reporting internally is NOT a requirement to be eligible for an SEC whistleblower award. You can report directly to the SEC and still qualify. However, reporting internally can be a positive factor in the SEC’s award determination.

Just keep in mind, if you report internally, to get credit for this when the SEC considers your award, you should generally report the same information to the SEC within 120 days of your internal report. Failure to follow this rule may decrease your potential award amount.

Contact IWA International SEC Attorneys

We offer a free consultation to evaluate your case. If we move forward, we handle everything — gathering evidence, preparing and submitting your TCR (anonymously if needed), and managing all SEC communications on your behalf.

We help whistleblowers secure SEC awards of 10-30% of sanctions collected in successful enforcement actions exceeding $1 million. We also help whistleblowers pursue remedies including reinstatement, double back pay, and attorneys’ fees when employers retaliate through termination, demotion, harassment, or attempts to impede SEC communication.

We don’t get paid unless we win your case. Get in touch today for a free consultation!