Ex-Trader To Seek 'Post-Dismissal Relief' After OCC Retreat

Law360 (July 21, 2021, 6:10 PM EDT) -- A former JPMorgan foreign exchange trader named in a market manipulation enforcement action that was recently dropped by the Office of the Comptroller of the Currency is planning to seek compensation from the agency after defending against what he has called its "meritless" case.

The trader, Richard Usher, was granted brief stays in a pair of D.C. federal court lawsuits on Monday while he works on a motion for "post-dismissal relief" to be filed with the OCC, which abruptly abandoned administrative proceedings earlier this month that sought to sanction Usher and a former Citigroup forex trader, Rohan Ramchandani, for alleged forex-rigging....

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