U.S. federal court to consider payout suit brought by RBS whistleblower

REUTERS

The U.S. Second Circuit Appeals Court will on Tuesday consider arguments by an ex-Royal Bank of Scotland (RBS.L) employee who is suing the U.S. Justice Department and Securities and Exchange Commission for a bounty he says he is owed under a whistleblower program.

The suit brought by former RBS risk manager Victor Hong could result in a landmark ruling if the court finds the agencies broke the law, or force them to reconsider his case or produce documents that may shed light on how they handled it. read more »

SEC Charges Morgan Stanley Smith Barney With Providing Misleading Information to Retail Clients

SEC

The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney LLC (MSSB) has agreed to settle charges that it provided misleading information to clients in its retail wrap fee programs regarding trade execution services and transaction costs.  MSSB has agreed to pay a $5 million penalty that will be distributed to harmed investors. read more »

Potbelly settlement with activists includes twist: stock, not cash, for outlays

REUTERS

Sandwich maker Potbelly Corp on Monday promised to reimburse activist shareholders’ expenses with stock not cash, creating a situation that lawyers call an outlier for now but which they said could find traction in tough economic times. read more »

EasyJet tycoon Stelios Haji-Ioannou offers £5m reward to Airbus 'whistleblower'

SKY NEWS

The founder of easyJet is offering to dip into his pocket by offering a £5m "reward" for information that triggers the cancellation of a controversial £4.5bn Airbus order.

Sky News understands that Sir Stelios Haji-Ioannou, who launched the low-cost carrier in 1995, will announce on Tuesday that he will pay the sum to a "whistleblower" if more than 100 new aircraft are ditched - a move he insists is essential to the company surviving the coronavirus crisis. read more »