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Stories of Interest
- Banca IMI Securities to Pay $35Mn for Improper Handling of ADRs in Continuing SEC Crackdown
- Members of White House ‘Arts Panel’ Resign En Masse in Protest of Trump
- FINRA Whiffs on Disciplinary Sanction: Bill Singer's 'Negligent Market Manipulation in OTC Stock Promotion'
- Heather Heyer’s Mother Says, ‘I’m Not Talking to the President’
- Goldman Sachs May Have Lost $100Mn on Energy Bet Gone Wrong
- SEC Drops Case Against Ex-JPMorgan Traders Over 'London Whale'
- Financial Advisers That Invest in Technology Need to Accomplish These Two Things
- FINRA Amends Codes Regarding Expedited Arbitrator List Selection
- FINRA July 2017 Quarterly Disciplinary Review (Podcast)
- Senior Exec in Citigroup's Equities Unit Has Left
- Prudential Plotting its Escape From Fed's Tough Oversight
- Why CEOs Spurned Trump's Business Councils, in Their Own Words
- A Stockbroker, Her LLC, and Her Customers' Loans (Or Investment?) - Bill Singer
- Brian Quintenz Sworn In as CFTC Commissioner
- A Gary Cohn Resignation Would 'Crash the Markets' – Mgmt Guru Jeffrey Sonnenfeld
- Trading Firm DRW to Buy RGM Advisors - As Low Volatility Forces Out Weak HFT Players (subsc reqd)
- Reputational Damage - Rajat Gupta on Hard Road to Recovery
- 7th Circuit Affirms Spoofing Conviction - Bill Singer
- Wells Fargo Announces Board Changes
- Judge Rules Against Ex-Goldman Employee in Fed Leak Case
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NEWSLETTERS & ALERTS
Federal Reserve Drops ‘London Whale’ Probe
[Photo: 'Whale in a Teapot', 2012, by Ingram Pinn / Ft.com/lexicon]
The Federal Reserve has opted not to bring legal action against JPMorgan’s London Whale, Bruno Iksil. And so ends the 2012 saga that left JPMorgan with a $6.2 billion loss and Chairman/CEO Jamie with egg on his face.
So, what is to become of Mr. Iksil, the former trader in JPMorgan’s London-based Chief Investment Office, who has been ‘hiding out’ in France - at home with his family in France, about 50 miles south of Paris? [See Financialish, 3/15/17] Those past 5 years afforded him protection from prosecution that he no longer needs.
It’s likely that Mr. Iksil will seek to ‘defend his honor’ and tell what happened 5 years ago – from his perspective – perhaps in a book or in a series of interviews.
“I have to retrieve my reputation, my intellectual property and, simply, my life …”
Beyond that, not much is known about The London Whale’s intentions.