A whistleblower is defined as someon who provides the SEC with information in writing that relates to a possible violation of the federal securities laws in the past, present or future.
To qualify for the whistleblower protections a whistleblower must follow the procedures for the submitting of original information to the SEC outlined in Section 240.21F-9. These include:
- formal submission of the complaint by way of the mechanisms available
- a declaration under penalty of perjury that the information submitted is true and correct to the best of one’s knowledge and belief
- if providing the information anonymously ensuring that an attorney verifies the whistleblowers identity
To qualify for retaliation protections a whistleblower must:
- qualify as a whistleblower
- reasonably believe that the information relates to a possible violation of federal securities laws
- perform a lawful act that is connected with:
- providing information to the SEC
- testifying or assisting an SEC investigation
- making protected disclosures
- ensure that the lawful act is related to the subject matter of the whistleblowing
Retaliations protections are available to those not yet qualified as a whistleblower before they perform a lawful act as described above.
But qualification as a whistleblower is needed before retaliation is experienced in order to attract these protections.
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