Since 2012, when the US Securities and Exchange Commission began paying money to whistleblowers, it has awarded more than half a billion dollars to almost 100 people, according to its latest figures. As we pass this notable milestone, it is worth asking again: is it time for regulators to pay for information in Europe?

We would say “it depends”. If the intent is to pay reasonable compensation for losses that a whistleblower sustains as a result of retaliation for blowing the whistle, then that would be fair, and in the public interest. But if payments far beyond any reasonably incurred losses were to become the norm, and whistleblowers were to receive the sometimes life-changing sums they can expect in the US — this would be highly counterproductive.