U.S. Supreme Court rebuffs RBS ex-banker's whistleblower award bid

Reuters2022-11-21

Nov 21 (Reuters) - The Supreme Court on Monday declined to hear former Royal Bank of Scotland managing director Victor Hong's bid to collect a U.S. government whistleblower award of at least $490 million for reporting alleged misconduct related to the institution's sales of mortgage-backed securities.

The justices turned away Hong's appeal of a lower court's ruling that even though his tips helped federal agencies win large settlements against the bank he was not eligible for a cut under the U.S. Securities and Exchange Commission whistleblower program because the SEC did not take enforcement action itself.

(Reporting by Andrew Chung; Editing by Will Dunham)

((andrew.chung@thomsonreuters.com; 646.223.8022; 646.407.9441 mobile;))

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