A whistleblower just took home $50 million — the biggest award the SEC has ever paid
CNN, 5 June 2020
The US Securities and Exchange Commission has paid out its largest-ever whistleblower award — nearly $50 million.
The whistleblower tipped off the agency to a currency manipulation scheme at a massive bank, resulting in a “successful enforcement action,” the SEC said Thursday.
The Wall Street Journal, which conducted an investigation about the scheme, reported the whistleblower is a trader from Bank of New York Mellon (BKPRC) who alerted the SEC about the bank’s reported pattern of “overcharging big clients on currency trades.”