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The UK Financial Conduct Authority (FCA) has announced that it is imposing a fine on a former senior banking executive at JPMorgan. Achilles Macris, who was serving as the Head of JP Morgan’s CIO (Chief Investment Office) International has been slapped with a £792,900 ($1.15 million) fine in relation to his business conduct when communicating with the UK watchdog.
According to the FCA, Macris has failed to the “open and co-operative” when communicating with the regulator the issue of the ‘London Whale’ trades at JPMorgan. Back in 2012, one of the portfolios of JPMorgan for which Macris was responsible has ... (read more)