Regulation

SEC drops final action against London Whale traders

Regulator follows the US Department of Justice in dropping its case against former JPMorgan employees

SEC drops final action against London Whale traders
Photo: Alamy

The US government has dropped its last threat of legal action against two former JPMorgan staff embroiled in the so-called London Whale losses that cost the bank $6.2bn in 2012.

The Securities and Exchange Commission said in a court filing seen by Financial News that it had voluntarily dismissed a civil case against Javier Martin-Artajo and Julien Grout.

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