awards

The Securities and Exchange Commission said Monday that it expects to pay more than $30 million in an award under its whistleblower program, more than double the agency’s previous high for a payout under the plan. The SEC didn’t name the whistleblower in question, but the regulator did say that it will be the fourth award given to an informant living in a foreign country. “This award of more than $30 million shows the international breadth of our whistleblower program as we effectively utilize valuable tips from anyone, anywhere to bring wrongdoers to justice,” Sean McKessy, chief of the SEC’s whistleblower office, said in a news release. “Whistleblowers from all over the world should feel similarly incentivized to come forward with credible information about potential violations of the U.S. securities laws.” [WSJ]


[via @wolfofwallst]

  • 10 Jun 2013 at 2:45 PM
  • Banks

UBS Dethroned By Upstart At European Brokerage Tonys

Feel free to exchange exultations, insults and sour-grape rationalizations below. Read more »

When people think of Jonathan Alexander Thain, as people surely often do, lots of thinks come to mind. High school wrestling. Competitive bee-keeping. Masterful stewardship of Wall Street firms. $68,179 19th Century Credenzas. $35,000 commodes. $28,091 curtains. $87,784 area rugs. $1,405 garbage cans. A keen eye for interior design and fabulous taste in general. Though we knew the current CIT Group chief executive officer was a father, we probably wouldn’t have included his parenting skills on a list of his noted attributes and accomplishments, only because there are so many to mention and we didn’t know if he excelled as a dad like he did as a decorator. Apparently this represents a gross oversight because John Thain? Is a phenomenal dad. Award-winning, in fact. Read more »

And the award goes to… Read more »

  • 06 Jan 2011 at 12:27 PM

Let’s Take A Moment To Celebrate Ping Jiang

If you’ve checked out Bloomberg‘s “richest hedge funds” story today, you may have noticed a sidebar of the “top emerging-market hedge funds.” Number one on that list? Mr. Ping Jiang, founder of Ping Capital Management. Dealbreaker readers will not be surprised; we’ve been exclusively tracking the performance of Jiang all year and the returns have been consistently of the kick-ass variety. Still, it’s nice to see Jiang’s efforts recognized. Having said that, it’s not enough. That’s why today we want to present Ping with an award that reflects what he’s had to do to get to this place. Read more »

In 10,000 words:

A bank that really takes pleasure in proudly advertising any award it gets, howsoever ludicrous the honour, is HSBC. One honour it’d loath to advertise, but unarguably deserves the most is the bank that most royally screws its employees. It is no secret that HSBC’s senior management gets paid ridiculous amount of compensation. What however is not well known is how shoddily the junior and middle level staff is paid. One rather remarkable fact is that on parameters like average employee salary and percentage of profits paid as staff compensation, HSBC is in line with the best paying investment banks. However, the salaries of its junior-middle level staff are right there at the bottom of the industry. Their loss is “senior management’s” gain, the bureaucrats who spend most of their time strategising and talking vision.

Read more »