SEC Expected to Present the Largest Whistleblower Award in its History

Posted on July 26th, 2017 at 1:43 PM
SEC Expected to Present the Largest Whistleblower Award in its History

From the Desk of Jim Eccleston at Eccleston Law LLC:

According to an SEC letter, the regulatory agency is expected to award $70.6 million or more to two whistleblowers in a case involving a breach of fiduciary duty on the part of JP Morgan. The $70.6 million award would be the largest in history. The previous record was a $30 million award in 2014.

According to the whistleblower complaint, JP Morgan breached its fiduciary duty for years by putting unwitting clients into the bank’s own high-priced investments. JP Morgan admitted to the allegation and paid a record $307 million in regulatory fines in 2015. 

The SEC’s whistleblower program has been an important tool since its inception in 2011. The award distributions are paid from an investor protection fund established by Congress. The standard to obtain an award requires that the whistleblower’s information be unique, useful and lead to a successful enforcement action. 

Eccleston Law, LLC helps individuals file and document their SEC whistleblower claims while maintaining confidentiality. Please contact us for further information. 

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Jim Eccleston, Eccleston Law, Eccleston Law LLC, Eccleston, SEC< Whistleblower

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