How can I file a whistleblower claim with the SEC and be compensated for it?

To file a complaint with the SEC, a whistleblower must submit the SEC’s Form TCR. That form requires information about (1) the whistleblower (unless reporting anonymously), (2) the individuals or entities believed to have violated the securities laws, (3) the conduct at issue, and (4) the sources of evidence the whistleblower either possesses or knows exist. The SEC encourages electronic submission through its online portal.

Form TCR also requires a certification that the information provided is truthful. Even when filing anonymously through a lawyer, a whistleblower must still make that certification.

The SEC then reviews the information submitted and decides whether to investigate the alleged misconduct. Like most government agencies, the SEC conducts its investigations on a confidential basis and will not necessarily provide updates to the whistleblower regarding the investigation’s status.

The SEC may seek additional information from the whistleblower or their attorney during the investigation. It may also request to interview the whistleblower about the information submitted. Depending on the complexity of the case, the investigation may last for several months or even years.

If the SEC moves forward with a case, it will proceed through the ordinary stages of civil litigation. When the SEC obtains a recovery that is potentially eligible for a whistleblower award, it publishes that information on its website. The whistleblower then has 90 days from the date of publication to submit a claim for an award.  

To learn more about the SEC whistleblower program and other similar programs, go to www.mololamken.com and follow us on LinkedIn. “Brilliant lawyers with courtroom savvy” — Benchmark Litigation. Copyright MoloLamken LLP 2025.