Protecting a Whistleblower's Confidentiality

Posted on August 19th, 2019 at 5:07 PM
Protecting a Whistleblower's Confidentiality

From the Desk of Jim Eccleston at Eccleston Law LLC:

Part 1

This is the first in a three-part series.

Whether or not a whistleblower seeks anonymity, the Securities and Exchange Commission ("SEC") is committed to protecting a whistleblower's identity to the fullest extent possible. Section 21F(h)(2) of the Securities and Exchange Act of 1934 ("Exchange Act") requires that the SEC "not disclose information that could reasonably be expected to reveal the identity of the whistleblower."

However, there are limits on the SEC's ability to shield a whistleblower's identity, and in certain circumstances, the SEC must disclose it to outside persons or entities. For example, in an administrative action or in a federal court proceeding, the SEC may be required to produce documents or other information which would reveal a whistleblower's identity.

In addition, when the SEC determines that its necessary to accomplish the purposes of the Exchange Act and to protect investors, the SEC also may provide information, subject to the confidentiality requirements, to the Department of Justice, an appropriate regulatory authority, a self-regulatory organization, a state attorney general in connection with a criminal investigation, any appropriate state regulatory authority, the Public Company Accounting Oversight Board, or foreign securities and law enforcement authorities. The SEC will determine what assurances of confidentiality it deems appropriate in providing such information to foreign securities and law enforcement authorities.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, whisteblower, sec, anonymous tip,

Return to Archive



I have the best legal firm in the country to defend me. Awesome job!

Cindy C.


September 22, 2023
State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.

September 21, 2023
SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset investments, with
inadequate disclosure of millions of dollars in real estate brokerage fees paid to a brokerage firm owned by its CEO.

September 20, 2023
SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).