News & Analysis as of

London Whale

Your Daily Dose of Financial News

by Robins Kaplan LLP on

We got our dose of Fed minutes yesterday, and it appears that the Fed—like the rest of us—is scratching its head over the “new reality” of concurrent low inflation and low unemployment. Fed officials are hoping that the low...more

USAO Moves To Dismiss Charges Related To London Whale

by Dorsey & Whitney LLP on

The saga of the London Whale appears to be drawing to a close. The Manhattan U.S. Attorney’s Office moved to dismiss charges against two former JP Morgan derivatives traders who were colleagues of Bruno Iksil, the London...more

Bridging the Week - February 2016 #3

Overseas Entities: Count US-Arranged Security-Based Swaps in Security-Based Swap Dealer Calculation Says SEC: The Securities and Exchange Commission adopted final rules that will require non-US persons to include in a...more

UK Regulator Fines Former Head of JPMorgan's CIO International

by Shearman & Sterling LLP on

The Financial Conduct Authority issued JPMorgan's former head of CIO International, Mr. Achilles Macris, a Final Notice and a fine of £792,000 for failing to be open and co-operative. The FCA found that Mr. Macris was...more

Supreme Court grants permission for FCA appeal identification ruling

by Dentons on

The Supreme Court has granted permission for FCA to appeal the Court of Appeal decision that FCA should have given Achilles Macris the right to make representations on certain matters set out in FCA’s final notice to JP...more

Financial Markets Disputes and Regulatory Update - Summer 2015 Issue 1

by Dentons on

In This Issue: - What is worth remembering from the first half of 2015? - Judgments - so far this year… ..Jurisdiction for claims in relation to bearer bonds ..Exercise of contractual rights by...more

Derivative Suit Filed Against JPMorgan Alleges Culture of Risk

by Bilzin Sumberg on

Adding to JPMorgan Chase’s widely publicized recent legal woes, shareholder Bradley P. Miller filed a derivative suit against the bank and its directors in California federal court on January 23, 2014, as a result of the $20...more

CFTC Settles Charges Against JPMorgan Chase for “London Whale” Swaps

On October 16, CFTC brought and settled charges of employing a manipulative device in connection with the JPMorgan Chase trading of certain credit default swaps (CDS), in violation of the new Dodd-Frank prohibition against...more

What is Risk? Compliance Lessons from the Senate Hearing On the Whale

by Thomas Fox on

What is risk? Under the Foreign Corrupt Practices Act (FCPA) and UK Bribery Act risk is generally doing business in a non-compliant manner under these laws, where such action can increase the possibility of engaging in or...more

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