The final threat of action facing “London Whale” trader Bruno Iksil, who was at the centre of a $6.2 billion trading loss at JP Morgan, has been lifted after the UK’s Financial Conduct Authority decided to halt its investigation.

Iksil had faced accusations in Britain and the US of market misconduct and a failure to prevent or detect the incorrect marking of instruments to market after outsize bets on the derivatives market incurred the large losses for JP Morgan in 2012.