FCA‎ Wins Legal Battle over Identity of ‘London Whale’ Trader

[kreslik.news]

The UK Financial Conduct Authority (FCA) has won a protracted legal battle with a former JPMorgan trader caught up in the ‘London Whale’ controversy who had argued that the watchdog didn’t take adequate steps to maintain his anonymity when it fined the Wall Street bank $195 million in 2013.

In a ruling that could prove important for other cases brought against the regulator, the Supreme Court said that the FCA adequately anonymized Julien Grout’s identity and had not provided information that would have made him identifiable to the general public. The judgement overturned previous rulings from a London tribunal.

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