The US is offering big new incentives for Wall Street whistleblowing. A new bonus route for bankers?
It looks, on the face of it, like a win-win: the Securities and Exchange Commission (the US financial regulator) is apparently expecting a big rise in tip-offs against Wall Street firms - because new reforms mean whistleblowers will be entitled to a share of any resulting settlement. Since this share could be as high as 30%, and the sums can involved can run into eight figures, that's a hell of an incentive to grass up a banker. So, one for the City to copy? Possibly. Although it's worth remembering that the people most likely to shop bankers, and therefore profit from their downfall, are - that's right - other bankers..
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