SEC Argues Ex-JPMorgan Employees Can't Testify In Secret

Law360, New York (April 1, 2016, 2:31 PM EDT) -- Two former JPMorgan employees facing charges over the bank’s $6 billion “London Whale” trading loss can't keep their testimony from the trader at the center of the scandal who is cooperating with prosecutors, the U.S. securities regulator told a New York federal judge on Thursday.

The U.S. Securities and Exchange Commission argued there's no rule or precedent supporting Julien Grout and Javier Martin-Artajo's bid to hide transcripts of their depositions from Bruno Iksil, dubbed the “London Whale” for his role in the 2012 trading loss. Grout and Martin-Artajo face civil and criminal charges for their alleged concealment of losses in Iksil's...

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Court

New York Southern

Nature of Suit

Securities/Commodities

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Date Filed

August 14, 2013

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