The Commodity Futures Trading Commission said Thursday it has awarded its biggest sum yet, or about $30 million, to a whistleblower for information that led to a successful enforcement action. The CFTC did not identify the whistleblower or the party involved in the enforcement action, but Bloomberg said it was taken against JP Morgan Chase & Co JPM, +0.23% citing an attorney involved in the matter. The bank agreed to pay $367 million to regulators in December 2015 for failing to inform high-net-worth individuals about conflicts of interest in its investment recommendations, Bloomberg reported. “We hope that an award of this magnitude will incentivize whistleblowers to come forward with valuable information and provide notice to market participants that individuals are reporting quality information about violations of the Commodity Exchange Act [CEA],” said CFTC Chairman J. Christopher Giancarlo. JP Morgan shares were slightly higher Thursday, but are down 0.3% in 2018, while the Dow Jones Industrial Average DJIA, +0.81% which counts the bank as a member, has gained 0.8% and the S&P 500 SPX, +0.77% has gained 4.6%. The bank is scheduled to report second-quarter earnings on Friday.
CFTC makes record whistleblower award of about $30 mln in case reported to involve JP Morgan
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