As a stark reminder to companies for how the Securities and Exchange Commission plans to work with whistleblowers, the SEC Office of the Whistleblower recently published 13 actions eligible for whistleblower rewards.
Some of the companies the SEC is targeting include Wachovia Bank, Aon Corporation, Morgan Stanley Investment Management, Credit Suisse Alternative Capital, and several other financial management firms. The complete list of covered actions can be found here.
The SEC accepts cases where wrongdoers are fined no less than $1 million. Individuals who voluntarily provide the SEC with original information after July 21, 2010, that leads to the successful enforcement of a covered action are eligible to apply for a whistleblower award, ranging from 10 to 30 percent of the fine.
Once the SEC posts a covered action, individuals have 90 calendar days to apply for an award by submitting a completed Form WB-APP to the Office of the Whistleblower by midnight on the claim due date listed for that particular action. Please send completed forms to the Office of the Whistleblower by mail at 100 F Street NE, Mail Stop 5971, Washington, DC 20549 or by fax at (703) 813-9322.