According to Section 21F of the Securities Exchange Act of 1934, the Securities and Exchange Commission pays awards to whistleblowers. However, payments are due on certain conditions and limitations. If you live in Hawaii and need to know if you’re eligible for whistleblower payments, here is some helpful information.
To be eligible for a whistleblower award, you should be aware of the regulations pertaining to your compensation. The Securities and Exchange Commission’s Office of the Whistleblower will let you know how long you have to submit your information. No individual is authorized to make you an offer for the details you provide. The Commission will decide whether you are entitled to an award.
How much will you receive?
If all conditions are met, the Commission will determine the percentage you will receive. The amount will be no less than 10% and no more than 30% of the amount that the Commission or additional authorities are permitted to collect. The percentage of the award you receive from the Commission may not be the same as what you receive from a legal decision related to the case. If the Commission offers awards to more than one whistleblower, the Commission will determine the percentage that will be awarded to each individual and notify all whistleblowers connected to the case.
If you have questions about the whistleblower program or the rules pertaining to financial reward, contact the SEC Office of the Whistleblower in Washington, D.C. A qualified attorney may also let you know more about the protection that is available to you as a whistleblower and what you can expect during the legal process.