SEC drops London Whale claims

Beached Whale

The U.S. Securities and Exchange Commission dropped claims against two former JPMorgan Chase traders accused of hiding more than $6.2 billion in trading losses as part of the “London Whale’’ case.

Bloomberg News reports that securities regulators agreed to dismiss their case against traders Javier Martin-Artajo and Julien Grout after federal prosecutors dropped criminal charges against them last month.

Martin-Artajo, who oversaw trading strategy for the synthetic portfolio at the bank’s chief investment office in London, and Grout, a trader who worked for him, were accused of scheming to manipulate loss figures tied to the dealings of Bruno Iksil, fellow JP Morgan trader dubbed the “London Whale’’ over his losses.

Hit the link below to access the complete Bloomberg News article:

SEC Drops Claims Against Ex-JPM Traders in London Whale Case

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