SEC Outlines Process for Evaluating Whistleblower Tips

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The SEC has published information which outlines the process for evaluating tips submitted by whistleblowers.  Among other things, the SEC states: When your TCR (the form required to submit tips) is submitted to the SEC, our attorneys, accountants, and analysts will review the data you submit to determine how best to proceed. If it is a matter the Enforcement Division is working on already, the TCR gets forwarded to the staff handling that matter. Often a TCR gets sent to the experts in another Division at the SEC for their evaluation. Even if your tip does not cause us to open an investigation right away, the information you provide is retained and may be reviewed again in the future if more facts come to light and a picture becomes clearer. In any event, please know that each tip received is evaluated very soon after being received by the SEC and it is looked at by at least two SEC attorneys. If we need additional information to evaluate your tip, or to assist us in any resulting investigation, we will contact you, or your attorney.

Check dodd-frank.com frequently for updated information on the JOBS Act, the Dodd-Frank Act and other important securities law matters.


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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