JPMorgan Sues Supervisor After $6B Trading Loss

Law360, New York (October 31, 2012, 11:01 PM EDT) -- JPMorgan Chase & Co. sued the supervisor of its former trader Bruno Iksil, who has been accused of being partly responsible for some $6 billion in losses, according to Wednesday news reports.

The banking giant sued Javier Martin-Artajo, who had supervised the trader better known by the moniker “London Whale,” in London court on Oct. 22, but the filing was made public Wednesday, Bloomberg reported.

Details of the suit were not disclosed in the court filings, according to Bloomberg. Representatives for JPMorgan could not immediately be...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.