JPMorgan trader victory appealed by regulator

JPMorgan still

The U.K. Financial Conduct Authority will appeal a ruling that it improperly identified a former JPMorgan. trader involved in the London Whale scandal in a penalty notice against the bank.

Bloomberg News reports that the FCA got the go-ahead earlier this month to appeal its case against Julien Grout, who worked under the so-called London Whale Bruno Iksil, according to court documents. While the claim hasn’t been filed, a spokesman for the regulator confirmed the agency’s plans.

On July 7, Grout became the latest banker to win a suit against the FCA over improper identification in settlements after a judge ruled he was identifiable in a $181m sanction notice against JPMorgan. The regulator is obliged to give a person the chance to respond to allegations before publishing a notice if they’re recognizable. To avoid this, the FCA uses monikers such as "Trader A" to hide their identities.

To access the complete Bloomberg News article hit the link below:

Ex-JPMorgan Trader Victory in Identity Suit Appealed by U.K. FCA

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