§ 240.21F-2 - Whistleblower status, award eligibility, confidentiality, and retaliation protections.

§ 240.21F-2 Whistleblower status, award eligibility, confidentiality, and retaliation protection.

Cross Reference

Link to an amendment published at 85 FR 70942, Nov. 5, 2020.

protections.

(a) Definition of a whistleblowerWhistleblower status.

(1) You are a whistleblower iffor purposes of Section 21F of the Exchange Act (15 U.S.C. 78u-6) as of the time that, alone or jointly with others, you provide the Commission with information pursuant to the procedures set forth in § 240.21F-9(a) of this chapter, and the information in writing that relates to a possible violation of the Federal federal securities laws (including any rules or regulations thereunderlaw, rule, or regulation subject to the jurisdiction of the Commission) that has occurred, is ongoing, or is about to occur.

(2) A whistleblower must be an individual. A company or

another

other entity is not eligible to be a whistleblower.

(

2

b) Award eligibility. To be eligible for an award

, you must submit original information to the Commission in accordance

under Section 21F(b) of the Exchange Act (15 U.S.C. 78u-6(b)) based on any information you provide that relates to a possible violation of the federal securities laws, you must comply with the procedures and the conditions described in §§ 240.21F-4, 240.21F-8, and 240.21F-9

of this chapter.

(b) Prohibition against retaliation.

(1) For purposes of the anti-

. You should carefully review those rules before you submit any information that you may later wish to rely upon to claim an award.

(c) Confidentiality protections. To qualify for the confidentiality protections afforded by Section 21F(h)(2) of the Exchange Act (15 U.S.C. 78u-6(h)(2)) based on any information you provide that relates to a possible violation of the federal securities laws, you must comply with the procedures and the conditions described in Rule 21F-9(a) (§ 240.21F-9(a)).

(d) Retaliation protections.

(1) To qualify for the retaliation protections afforded by Section 21F(h)(1) of the Exchange Act (15 U.S.C. 78u-6(h)(1)), you

are a whistleblower if

must satisfy all of the following criteria:

(i) You

possess a reasonable belief

must qualify as a whistleblower under paragraph (a) of this section before experiencing the retaliation for which you seek redress;

(ii) You must reasonably believe that the information you

are providing relates to a possible securities law violation (or, where applicable,

provide to the Commission under paragraph (a) of this section relates to a possible violation of the

provisions set forth in 18 U.S.C. 1514A(a)) that has occurred, is ongoing, or is about to occur, and; (ii) You provide that information in a manner

federal securities laws; and

(iii) You must perform a lawful act that meets the following two criteria:

(A) First, the lawful act must be performed in connection with any of the activities described in Section 21F(h)(1)(A)(i) through (iii) of the Exchange Act (15 U.S.C. 78u-6(h)(1)(A)(i) through (iii)); and

(B) Second, the lawful act must relate to the subject matter of your submission to the Commission under paragraph (a) of this section.

(

iii) The anti-retaliation protections apply whether or not you satisfy the requirements, procedures and conditions to qualify for an award. (2

2) To receive retaliation protection for a lawful act described in paragraph (d)(1)(iii) of this section, you do not need to qualify as a whistleblower under paragraph (a) of this section before performing the lawful act, but you must qualify as a whistleblower under paragraph (a) of this section before experiencing retaliation for the lawful act.

(3) To qualify for retaliation protection, you do not need to satisfy the procedures and conditions for award eligibility in §§ 240.21F-4, 240.21F-8, and 240.21F-9.

(4) Section 21F(h)(1) of the Exchange Act (15 U.S.C. 78u-6(h)(1)), including any rules promulgated thereunder, shall be enforceable in an action or proceeding brought by the Commission.

[85 FR 75942, Nov. 5, 2020]