An informant turned down a million dollar reward of US stock exchange authority SEC (Securities and Exchange Commission), for the disappointment that caused the too lax penalties imposed on his former employer Deutsche Bank.
According criticized the former employee Eric Ben-Artzi in a contribution published today in the newspaper “financial Times”, although it gave the authorities of market regulatory indications of dubious business practices of the financial institution, which led to that May 2015 reached an agreement for more than $ 55 million, senior managers left unpunished.
the Deutsche Bank declined manifest when asked about the case. As part of a program of the SEC to reward employees who provide data on rule infractions, Ben-Artzi corresponded collect 8.25 billion a prize fund of $ 16.5 million.
Ben-Artzi, who worked in the area of risk management of the bank, desist protest of that money, which in his opinion it is up to the shareholders.
However, some of these funds he was claimed by his lawyers and his ex-wife. The man complained that it, rather than taking action against senior managers, some of which could have retired with millionaire bonds, punishes investors and employees.
Ben-Artzi blamed it to a close too large between the regulatory authority and businesses, following personal entanglements.
the section chief of the SEC Andrew Ceresney rejected these allegations and said that the authority took all the points that could be tested to the charge.
in the case reported by Ben-Artzi is certain securities whose risks were intentionally concealed in the balance during the financial crisis.
the former risk analyst was fired, according with his own testimony, after she was one of three informants who went with their suspicions to the SEC. Thus ended his career on Wall Street.
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