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CFTC makes record whistleblower award of about $30 mln in case reported to involve JP Morgan

“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” writes Ciara Linnane for marketwatch.com. 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, +0.26% 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. The bank is scheduled to report second-quarter earnings on Friday.JP Morgan shares were slightly higher Thursday, but are down 0.3% in 2018, while the Dow Jones Industrial Average DJIA, +0.87% which counts the bank as a member, has gained 0.8% and the S&P 500 SPX, +0.84% has gained 4.6%.
 
Source: marketwatch.com



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