FCA Loses Identity Case Against London Whale Assistant, UK Tribunal Rules

[kreslik.news]

The London Whale case has continued to escalate and draw headlines, after the identity of a junior assistant was improperly disclosed by the UK’s Financial Conduct Authority in an earlier report in conjunction with a JPMorgan Chase & Co. fine.

Per the latest development, the FCA lost an identity case vs. Julien Grout, who had worked under Bruno Iksil, also known as the ‘London Whale’. Iksil has previously racked up than $1 billion in fines for JPMorgan Chase & Co after losing upwards of $6.2 billion on large bets – subsequent investigations have cast light on JPMorgan’s risk management systems and ... (read more)