SEC: Whistleblowers – Bloomberg

D.E. Shaw paid $10 million. I hope somebody is getting a whistleblower payment for this? Maybe the easiest lucrative job in finance is:

  1. Take a job at a hedge fund.
  2. Get handed an employment agreement on the first day that says “you agree not to disclose any of our secrets unless required by law.”
  3. Sign.
  4. Take the agreement home with you.
  5. Circle that sentence in red marker, write “$$$$$!!!!!” next to it and send it to the SEC.
  6. The SEC extracts a $10 million fine.
  7. They give you $3 million.
  8. You can keep your job! Why not; it’s illegal to retaliate against whistleblowers.
  9. Or, you know, get a new one and do it again.

Source: SEC: Whistleblowers – Bloomberg