Deutsche Bank Whistleblowers Lose Bid to Force SEC Awards (2)

Whistleblowers who provided information on Deutsche Bank AG during an SEC investigation of the bank’s financial statements can’t force the agency to issue them awards for their help, the Second Circuit said Nov. 8.

The appellants, one of whom is anonymous, went to court after the Securities and Exchange Commission denied their requests for whistleblower awards following the agency’s 2015 settlement with Deutsche Bank. But the information they provided didn’t lead to the $55 million settlement, the U.S. Court of Appeals for the Second Circuit said.

The SEC ultimately paid out around $16 million to two other whistleblowers in ...