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JPMorgan head of CIO fined by UK FCA for downplaying ‘London whale’ loss

( February 9, 2016, 11:39 GMT | Official Statement) -- MLex Summary: The Financial Conduct Authority has fined former head of JP Morgan’s Chief Investment Office International, Achilles Macris, 792,900 pounds for failing to be open and cooperative with the watchdog. Macris didn’t inform the FCA about the full extent of losses at the time of the ‘London Whale’ trading scandal, and as a result he failed to meet the standards required of his role, the FCA said.The following is the text from the statement. The document is attached below the text. ...

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