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20

JPMorgan Whistle-Blowers Set to Reap Record $61 Million Bounty

By Tony Seruga

SEC, in letters, says two whistle-blowers will share award
Award stems from bank’s $307 million settlement over conflicts

Two whistle-blowers are set to share a record $61 million award from the Securities and Exchange Commission for helping make the case that JPMorgan Chase & Co. failed to disclose to wealthy clients that it was steering them into investments that would be most profitable for the bank.

The SEC issued letters on Wednesday notifying six whistle-blower applicants of the preliminary decision. The letters said that two of them would share almost a quarter of the record asset-management settlement that the SEC reached with the bank in December 2015…

JPMorgan Whistle-Blowers Set to Reap Record $61 Million Bounty

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