Ex-JPMorgan 'Whale' supervisor files claim against UK regulator

Wed Mar 19, 2014 6:45pm EDT
 
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By Richa Naidu

(Reuters) - A former JPMorgan Chase & Co executive fighting U.S. extradition from Spain for allegedly helping to hide more than $6.2 billion in trading losses has filed a claim against Britain's financial regulator.

Javier Martin-Artajo, who oversaw an ex-JPMorgan trader nicknamed the "London Whale" for his large bets on derivatives markets, filed the claim against the Financial Conduct Authority (FCA) at a tribunal in London on March 12, according to the court's website. (link.reuters.com/saj77v)

Details about the case were not available and no hearing date has been set.

The "London Whale" scandal has cost America's largest bank $920 million in penalties from U.S. and British regulators so far, including the U.S. Securities and Exchange Commission and the FCA.

Neither the FCA nor Martin-Artajo's lawyer could be reached for immediate comment.

(Reporting by Richa Naidu in Bangalore; Editing by Tom Brown)

 
Ex-JPMorgan employee Javier Martin-Artajo, indicted by a U.S. grand jury in relation to the bank's "London Whale" trading scandal, leaves Spain's High Court in Madrid November 15, 2013. REUTERS/Sergio Perez