Ex-JPMorgan Executive Fined $1.1 Million Over ‘London Whale’

Former JPMorgan Chase & Co. executive Achilles Macris was fined $1.1 million (792,900 pounds) for failing to tell authorities about concerns he had with the bank’s activities in the “London Whale” case.

Macris, the former head of the bank’s international chief investment office in London, was sanctioned for failing to inform regulators about concerns with a portfolio related to what became known as the London Whale trades, the Financial Conduct Authority (FCA) said Feb. 9. The 54-year-old Macris described the decision as “a major climb-down” by the regulator after it had previously said he deliberately misled authorities.

JPMorgan was fined ...