News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Investment Banking

FCA fines former JP Morgan exec over ‘London Whale’ trades

Former London head of US bank's chief investment office fined for 'failing to be open and co-operative' with regulator at the time of the trades

FCA fines former JP Morgan exec over ‘London Whale’ trades
Photo: iStockPhoto

The UK’s Financial Conduct Authority on February 9 said it had fined a former JP Morgan Chase executive £792,900 for “failing to be open and cooperative” with the regulator at the time of the so-called London Whale trades.

The FCA said Achilles Macris, the former head of CIO International for JP Morgan Chase Bank in London, failed to give it accurate information about the worsening situation of a credit portfolio he was responsible for in 2012.

WSJ Logo