SEC Grants $50 Million Award To Two JPMorgan Whistleblowers (#GotBitcoin?)
One of the tipsters received $37 million, the third-largest award in the history of the agency’s whistleblower program. SEC Grants $50 Million Award To Two JPMorgan Whistleblowers (#GotBitcoin?)
Two whistleblowers received a total of $50 million for providing information that helped the Securities and Exchange Commission pursue a case of corporate wrongdoing, the agency said Tuesday.
The case is related to a December 2015 settlement with JPMorgan Chase & Co., according to law firm Labaton Sucharow LLP, which represented one of the whistleblowers. In the case, the New York-based bank agreed to pay $307 million to settle charges it failed to disclose conflicts of interest to its wealth management customers.
The agency granted $37 million to one whistleblower—the third-biggest individual whistleblower award granted by the SEC—and $13 million to the other.
The SEC didn’t disclose details of the case in a news release or provide identifying details about the whistleblowers.
One tipster received $50 million in March, and another received $39 million in September, according to the SEC.
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