DAILY BRIEFING: Supreme court to rule on 2012 London Whale scandal at JPMorgan
LONDON WHALE Britain's highest court will rule on a battle between a banker and the City watchdog.
The case relates to the 2012 London Whale scandal at JPMorgan, in which staff at the US bank's City office racked up £5.1billion of losses by betting on risky derivatives markets.
JPMorgan was fined £138million by the Financial Conduct Authority and the unit's former boss, Achilles Macris, 55, was hit with a £792,900 penalty.
But he claims he was improperly identified in a report on the JPMorgan fine.
The case now goes before the Supreme Court after the regulator appealed against an earlier... read more
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