Fee petition mechanics · Updated June 2026

SEC whistleblower attorney fee petition mechanics: TCR submission and anti-retaliation advisory, investigation cooperation and supplemental submission advisory, and Preliminary Determination response and award collection advisory

Q: How do SEC whistleblower TCR submission and anti-retaliation advisory calls generate billing gaps on the whistleblower's discovery-of-violation calendar?

The SEC whistleblower program under Exchange Act § 21F and Dodd-Frank § 922 imposes no fixed filing deadline on whistleblower attorneys — Form TCR may be submitted at any time after the whistleblower identifies a potential securities law violation. Because TCR submission advisory calls arrive on the whistleblower's own discovery timeline (not on any external regulatory calendar), they are systematically underlogged: the initial violation assessment and TCR strategy advisory call arrives when the client identifies a violation, the Form TCR drafting and submission advisory call arrives when the attorney and client complete the TCR package, and the retaliation documentation and anti-retaliation protection advisory call may arrive contemporaneously when the employer becomes aware of the whistleblower's identity. Two call types: Form TCR strategy and submission advisory (whistleblower's discovery-of-violation calendar, 33–38 min) and retaliation documentation and anti-retaliation protection advisory (33–38 min). At 55% untracked: 6 clients × 2 calls × 35 min × 55% = 231 min / 60 ≈ 3.9 hours = $1,755–$2,925/year at $450–$750/hr.

Q: How do SEC investigation cooperation and voluntary supplemental submission advisory calls generate billing gaps on the SEC's investigation milestone calendar?

After a Form TCR is submitted to the SEC Office of the Whistleblower, the SEC Division of Enforcement conducts an investigation on the SEC's own internal investigation calendar — which the whistleblower attorney cannot predict, observe, or control. SEC staff may contact the whistleblower for a voluntary interview months or years after TCR submission, may request voluntary supplemental document production, or may issue a formal order of investigation that changes the attorney's advisory obligations. Two call types arriving on the SEC's investigation milestone calendar: voluntary interview preparation advisory (SEC staff contacts client for informal meeting, 40–45 min) and voluntary supplemental TCR submission advisory (additional information or updated TCR to strengthen the claim before the Office of the Whistleblower's preliminary review, 38–42 min). At 55% untracked: 6 clients × 2 calls × 42 min × 55% = 277.2 min / 60 ≈ 4.6 hours = $2,070–$3,450/year at $450–$750/hr.

Q: How do SEC Preliminary Determination response and award collection advisory calls generate billing gaps on the OWB's award determination calendar?

The SEC Office of the Whistleblower issues a Preliminary Determination recommending or denying an award on its own internal award determination calendar — which the whistleblower attorney cannot predict and which arrives months or years after the SEC enforcement action closes. The whistleblower has 60 days from the OWB's Notice of Covered Action to submit an award application (Form WB-APP) under Rule 21F-10(e). Three call types arriving on the OWB's determination calendar: Preliminary Determination analysis and 60-day response strategy advisory (38–42 min, the most time-sensitive advisory call in the representation), Final Determination judicial review strategy advisory under Exchange Act § 21F(f) (38–42 min, available in U.S. Court of Appeals within 30 days of Final Order), and related action award claim advisory under Rule 21F-3(b) (38–42 min, for enforcement actions by the DOJ, CFTC, state regulators, or foreign authorities arising from the same underlying conduct). At 55% untracked: 4 clients × 3 calls × 40 min × 55% = 264 min / 60 ≈ 4.4 hours = $1,980–$3,300/year at $450–$750/hr.

Q: How does SEC whistleblower attorney billing differ from SEC enforcement defense attorney billing?

SEC whistleblower attorney billing centers on Dodd-Frank § 922 and Exchange Act § 21F representation of informants — with TCR submission advisory calls arriving on the client's discovery-of-violation calendar, investigation cooperation advisory calls arriving on the SEC's internal investigation milestone calendar, and Preliminary Determination response advisory calls arriving on the OWB's award determination calendar. SEC enforcement defense attorney billing centers on representation of respondents — with Wells Notice response advisory calls arriving on the SEC Division of Enforcement's investigation timeline and ALJ hearing preparation advisory calls arriving on the administrative law judge's scheduling calendar. Annual SEC whistleblower billing gap: 3.9 + 4.6 + 4.4 = 12.9 hours = $5,805–$9,675/year at $450–$750/hr.

SEC whistleblower attorneys representing clients in SEC whistleblower program proceedings under Exchange Act § 21F and Dodd-Frank § 922 — whose time records must satisfy the lodestar arithmetic required in any fee petition or sanctions motion arising from parallel SEC enforcement action involving the same underlying conduct — generate three billing gaps driven by the arrival of TCR submission advisory calls on the whistleblower's own discovery-of-violation calendar, investigation cooperation advisory calls on the SEC's internal investigation milestone calendar, and Preliminary Determination response advisory calls on the Office of the Whistleblower's award determination calendar: TCR submission and anti-retaliation documentation advisory calls on the whistleblower's discovery-of-violation calendar (6 clients × 2 calls × 35 min × 55% untracked ≈ 3.9 hrs = $1,755–$2,925/year at $450–$750/hr), investigation cooperation and voluntary supplemental submission advisory calls on the SEC's investigation milestone calendar (6 clients × 2 calls × 42 min × 55% ≈ 4.6 hrs = $2,070–$3,450/year at $450–$750/hr), and Preliminary Determination response and award collection advisory calls on the OWB's award determination calendar (4 clients × 3 calls × 40 min × 55% ≈ 4.4 hrs = $1,980–$3,300/year at $450–$750/hr). For a solo SEC whistleblower practice, the annual billing gap is $5,805–$9,675.

TL;DR

ClaimHour captures every SEC whistleblower TCR submission advisory call that arrives on the client's unannounced discovery-of-violation calendar, every SEC investigation cooperation advisory call that arrives on the SEC's internal investigation milestone calendar, and every Preliminary Determination response advisory call that arrives on the OWB's award determination calendar — passively, no timer, no audio, no call contents. $29–$59/mo. No PMS required.

TCR submission and anti-retaliation advisory: calls on the whistleblower's discovery-of-violation calendar

The SEC whistleblower program established by Dodd-Frank Wall Street Reform and Consumer Protection Act § 922 and codified at Exchange Act § 21F, 15 U.S.C. § 78u-6, awards between 10% and 30% of monetary sanctions collected by the SEC (and related authorities) in excess of $1 million to whistleblowers who voluntarily provide original information about securities law violations. The Office of the Whistleblower administers the program, with whistleblowers submitting tips using Form TCR (Tip, Complaint, or Referral) through the SEC's online tips portal or by mail. The whistleblower program imposes no filing deadline — under Rule 21F-4(c), information is "original" if it is derived from the whistleblower's independent knowledge or independent analysis and not already known to the SEC. This means Form TCR submissions arrive on each individual client's own discovery timeline: when the client identifies the violation, analyzes whether it qualifies under Rule 21F-2(a), and decides to submit.

Two TCR submission and anti-retaliation advisory call types that arrive on the whistleblower's discovery-of-violation calendar: (1) Form TCR strategy and submission advisory call — arrives when the client identifies a potential securities law violation and engages counsel, requiring analysis of whether the information satisfies the "original information" standard under Rule 21F-4(c) (the whistleblower's own independent knowledge or analysis, not based on information already known to the SEC, not based on a judicial proceeding, governmental report, or audit, and not based on the attorney-client privilege exception under Rule 21F-4(b)(4)), whether the violation is cognizable under Exchange Act provisions enforced by the SEC, whether the information is "specific, credible, and timely" enough to satisfy the OWB's initial assessment criteria, and whether to submit voluntarily under Rule 21F-9(a) (online Form TCR) or request no-action letter treatment for information covered by attorney-client privilege; call arrives on the client's own discovery-of-violation calendar, typically on the day or week the client identifies the violation and contacts counsel (33–38 min); (2) retaliation documentation and anti-retaliation protection advisory call — arrives when the employer becomes aware of the whistleblower's identity (often through the SEC's investigation) and the client reports employer retaliation including demotion, suspension, harassment, forced termination, or changes in compensation, requiring analysis of the anti-retaliation protections under Exchange Act § 21F(h), the "reasonable belief" standard for protected activity under Rule 21F-2(b)(1) as interpreted after Digital Realty Trust, Inc. v. Somers, 583 U.S. 149 (2018) (requiring internal reporting alone to satisfy the anti-retaliation provision when the employee also files with the SEC), the remedies available including reinstatement, double back pay, and attorney's fees under Exchange Act § 21F(h)(1)(C), and the potential parallel SOX § 806 anti-retaliation claim under 18 U.S.C. § 1514A with its 180-day administrative exhaustion requirement; call arrives when retaliation first manifests (33–38 min). At 55% untracked: 6 clients × 2 calls × 35 min × 55% = 231 min / 60 ≈ 3.9 hours = $1,755–$2,925/year at $450–$750/hr.

Investigation cooperation and voluntary supplemental submission advisory: calls on the SEC's investigation milestone calendar

After Form TCR is submitted, the SEC Office of the Whistleblower routes the tip to the relevant Division of Enforcement office for evaluation. The SEC investigation that follows — if opened — proceeds entirely on the SEC's internal investigation calendar. The whistleblower attorney cannot observe when the SEC opens a formal order of investigation (MFO), when SEC staff designates the investigation as a priority matter, when the Division decides to contact the whistleblower for additional information, or when the investigation closes. The SEC's investigation timeline from initial tip to enforcement action recommendation can span two to seven years, during which the whistleblower attorney may receive one or more requests for cooperation — voluntary interviews, requests for supplemental documentation, requests to review and validate prior submissions — all arriving on the SEC's internal calendar without advance notice to counsel.

Two investigation cooperation and voluntary supplemental submission advisory call types that arrive on the SEC's investigation milestone calendar: (1) voluntary interview preparation advisory call — arrives when SEC Division of Enforcement staff contacts the whistleblower to request an informal meeting, testimonial interview, or formal testimony pursuant to a subpoena under Exchange Act § 21F(e)(1) (which provides that the SEC shall not disclose information that could identify a whistleblower, subject to certain exceptions — but a formal testimony subpoena to the whistleblower risks the client's anonymity if the employer is able to deduce the whistleblower's identity from the scope of the inquiry), requiring advisement on the scope of cooperation, whether to maintain anonymity through counsel under Rule 21F-9(a)(2), which allows anonymous submission through an attorney, whether to assert the Fifth Amendment privilege against the SEC (which would disqualify the whistleblower from an award under Rule 21F-4(b)(1)(i)), and whether to seek a proffer agreement from SEC staff before the interview (40–45 min) — arriving on the SEC's investigation scheduling calendar, typically months or years after initial TCR submission; (2) voluntary supplemental TCR submission advisory call — arrives when new information relating to the initial TCR submission becomes available (new evidence of the violation, updated transaction records, additional communications, or evidence of the ongoing nature of the violation) or when SEC staff indicates through informal contact that the initial submission lacked specificity in particular categories, requiring analysis of whether the supplemental information constitutes "original information" under Rule 21F-4(c), whether submission of the supplement before a formal SEC request satisfies the "voluntarily" requirement under Rule 21F-4(a) (advisory calls on how to frame the supplement to maximize award percentage under the enhancement factors at Rule 21F-6(a)), and whether to apply for an award before the OWB's Notice of Covered Action deadline or contemporaneously with the supplemental submission under Rule 21F-12 (38–42 min). At 55% untracked: 6 clients × 2 calls × 42 min × 55% = 277.2 min / 60 ≈ 4.6 hours = $2,070–$3,450/year at $450–$750/hr.

Preliminary Determination response and award collection advisory: calls on the OWB's award determination calendar

When the SEC Division of Enforcement closes a covered action in which a whistleblower submitted a qualifying tip — meaning the SEC has collected monetary sanctions in excess of $1 million — the Office of the Whistleblower issues a Notice of Covered Action on the SEC's website. The whistleblower has 90 days from the Notice of Covered Action to submit an award application using Form WB-APP under Rule 21F-10(e). The OWB then conducts an award determination process: reviewing the application for eligibility, evaluating the award percentage based on the enhancement factors (significant assistance, law enforcement interest, participation in internal compliance) and reduction factors (culpability, unreasonable delay, interference with internal compliance) under Rule 21F-6, issuing a Preliminary Determination recommending or denying the award, and allowing a 60-day response window before issuing the Final Determination. The OWB's award determination calendar — from Notice of Covered Action through Final Determination — is entirely outside the whistleblower attorney's control and may span one to three additional years after the underlying enforcement action closes.

Three Preliminary Determination response and award collection advisory call types that arrive on the OWB's award determination calendar: (1) Preliminary Determination analysis and 60-day response strategy advisory call — arrives when the OWB issues its Preliminary Determination recommending an award percentage, denying the award application, or partially denying certain co-claimants' applications, requiring immediate analysis of whether to contest the recommended percentage (arguing for a higher percentage based on the enhancement factors under Rule 21F-6(a)), whether to contest a denial based on eligibility (arguing that the information was "original" and "voluntary" and that the client's delayed submission was not unreasonably delayed under Rule 21F-6(b)(3)), and whether to submit written briefing or documentation within the 60-day response window under Rule 21F-10(e)(1) — the most time-sensitive advisory call in the representation because missing the 60-day response window forfeits the right to contest the Preliminary Determination (38–42 min); (2) Final Determination judicial review strategy advisory call — arrives when the OWB issues its Final Determination and the whistleblower must decide whether to seek review in the U.S. Court of Appeals under Exchange Act § 21F(f), 15 U.S.C. § 78u-6(f), which grants any whistleblower who has exhausted administrative review the right to petition for review within 30 days of the Final Order, requiring analysis of the "arbitrary and capricious" standard of review applicable to OWB Final Determinations under § 21F(f) and the FTCA's arbitrary-and-capricious review standard, whether the denial rested on a factual or legal determination that the court would review de novo, and whether any SEC procedural errors in the award determination process support reversal (38–42 min); (3) related action award claim advisory call — arrives when a related action by the DOJ, CFTC, a state securities regulator, or a foreign financial regulatory authority arises from the same underlying conduct as the SEC enforcement action, requiring analysis of whether the related action qualifies as a "related action" under Rule 21F-3(b)(1) (the related action must arise from the same original information provided to the SEC, and the related authority must collect monetary sanctions in excess of $1 million), whether the whistleblower must file a separate Form WB-APP for the related action within 90 days of the related action's Notice of Covered Action, and the calculation of the related action award percentage under the same 10%–30% framework applied to the related authority's collected sanctions (38–42 min). At 55% untracked: 4 clients × 3 calls × 40 min × 55% = 264 min / 60 ≈ 4.4 hours = $1,980–$3,300/year at $450–$750/hr.

How ClaimHour fits SEC whistleblower practice

If you represent whistleblowers in SEC whistleblower program proceedings under Dodd-Frank § 922 and Exchange Act § 21F with TCR submission advisory calls arriving on each client's unannounced discovery-of-violation calendar, investigation cooperation advisory calls arriving on the SEC's internal investigation scheduling calendar months or years after the initial TCR, and Preliminary Determination response advisory calls arriving on the OWB's award determination calendar with a mandatory 60-day response window — and your invoices consistently understate the Form TCR strategy advisory calls that arrive when the client identifies the violation, the SEC voluntary interview preparation advisory calls that arrive on the SEC's investigation calendar without notice, and the OWB Preliminary Determination response advisory calls that arrive with a fixed 60-day deadline — ClaimHour was built for that gap.

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