British Bankers Are Using Whistleblowing Laws To Get Bigger Bonuses

London Banks

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Jonathan Ames has a great story in The Times of London detailing how British bankers are using whistleblowing laws to get bigger bonuses.Ames describes the practice:

Bankers, dealers and traders who fear that their bonuses will fall short have started to make whistleblowing disclosures before the bonus round gets under way. Then if they fail to get the bonus they think they deserve, they claim they have been victimized.

The whistleblowing laws were created with the Public Interest Disclosure Act 1998 (PIDA), which sought to provide protection for whistleblowers in financial institutions.

While the law was designed for large scale breaches of British law, it has evolved to include protection for those who blow the whistle on minor breaches.

Read more at The Times of London (subscription required) >