DThe US financial regulator, the CFTC, paid a whistleblower a record amount of nearly $200 million. The tipster helped officials in the United States and Great Britain to explain interest rate manipulation by Deutsche Bank in the so-called LIBOR scandal, The “Wall Street Journal” reported Quoting Insider in its Friday edition. NS Deutsche Bank did not wish to comment on the request.
The CFTC only confirmed the amount in a notification without providing details about the whistleblower or the companies concerned. Deutsche Bank and other financial institutions have accepted billions of comparisons over the years because dealers were said to have manipulated the LIBOR reference interest rate from them. It is an important benchmark for international financial transactions. Loan are coupled.
A law was recently passed in the United States to maintain the CFTC whistleblower program. The “Wall Street Journal” reported in May that the program was at risk due to the expected high payout to a Deutsche Bank manager. It relates to a $2.5 billion deal that Deutsche Bank agreed with observers a few years ago because of the LIBOR manipulation. The CFTC declined to comment, citing agency policy.
Connor Beaumont is a contributor to CA News Ottawa, covering news, politics, business, technology, sport, entertainment, and lifestyle. He focuses on clear, accurate reporting and useful information that helps readers stay informed about current affairs and developments that shape their communities. His work highlights relevant stories, emerging trends, and important issues, presenting them in a balanced, accessible, and reader-friendly manner.
