{"id":5924,"date":"2016-02-09T00:00:00","date_gmt":"2016-02-09T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2016\/02\/uk_regulator_fines_exjpmorgan"},"modified":"2022-05-18T14:35:46","modified_gmt":"2022-05-18T19:35:46","slug":"uk-regulator-fines-exjpmorgan","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/uk-regulator-fines-exjpmorgan\/","title":{"rendered":"UK Regulator Fines Ex-JPMorgan Executive $1.1 Over London Whale Debacle"},"content":{"rendered":"<p>The UK\u2019s Financial Conduct Authority is fining former <a href=\"https:\/\/www.investorlawyers.com\/jp-morgan-chase-background-information.html\">JPMorgan Chase (JPM) <\/a>executive Achilles Macris approximately $1.1M for failing to cooperate and communicate properly with regulators during the agency probe into the London Whale fiasco. Although Macris is now agreeing to settle the securities charges, he continues to defend himself. He insists that he stayed \u201cabove and beyond any reasonable\u201d transparency standards and that he is only agreeing to resolve this case because the F.C.A. had accepted his contention that he did not mislead anyone on purpose. The FCA would not comment on Macris\u2019 statements about the settlement.<\/p>\n<p>The former JPMorgan executive was in charge of the firm\u2019s chief investment office in London, which was supposed to invest funds for the bank and help offset possible losses. Unfortunately, a bad bet made by the unit on credit derivatives cost the bank $6.2B.<\/p>\n<p>&nbsp;<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/uk-regulator-fines-exjpmorgan\/#more-5924\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK\u2019s Financial Conduct Authority is fining former JPMorgan Chase (JPM) executive Achilles Macris approximately $1.1M for failing to cooperate and communicate properly with regulators during the agency probe into the London Whale fiasco. Although Macris is now agreeing to settle the securities charges, he continues to defend himself. He insists that he stayed \u201cabove [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3958],"tags":[3591,3570],"class_list":["post-5924","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jp-morgan-chase","tag-fva","tag-london-whale"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UK Regulator Fines Ex-JPMorgan Executive $1.1 Over London Whale Debacle &#8212; Investor Lawyers Blog &#8212; February 9, 2016<\/title>\n<meta name=\"description\" content=\"The UK\u2019s Financial Conduct Authority is fining former JPMorgan Chase (JPM) executive Achilles Macris approximately $1.1M for failing to cooperate and &#8212; February 9, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/uk-regulator-fines-exjpmorgan\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UK Regulator Fines Ex-JPMorgan Executive $1.1 Over London Whale Debacle &#8212; 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