London Whale Bruno Iksil Avoids Charges In The UK And US

London Whale Bruno Iksil Avoids Charges In The UK And US
Joe Mabel [CC BY-SA 3.0], via Wikimedia Commons

It looks like the London Whale — a French national named Bruno Iksil — will not face any further legal repercussion for his leading role in JPMorgan $6.2 billion derivatives trading loss back in 2012. The UK’s Financial Conduct Authority confirmed on Thursday that they will not be pursuing charges against Iksil.

Iksil had been accused in both the UK and the U.S. of market misconduct and not preventing the incorrect marking of instruments to market after he made giant  bets on the derivatives market that resulted in more than $6 billion in losses for JPMorgan in 2012.

Iksil — known in the relatively small derivatives market as the London Whale — was eventually determined to be the one responsible for making the monumental trades from the London arm of the bank’s chief investment office.

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