UK Supreme Court Hands FCA Advantage In Identity Cases

By Mark Taylor (March 22, 2017, 9:33 PM GMT) -- The U.K. Supreme Court's decision Wednesday to vindicate the Financial Conduct Authority's claim that it did not identify a former JPMorgan Chase & Co. executive in a controversial penalty notice is a shot in the arm for the British regulator but could strip away rights of other individuals facing future action, lawyers say.

Overturning decisions made in lower courts, a panel of Supreme Court judges ruled against JPMorgan Chase & Co. executive Achilles Macris, who claimed he had been improperly identified when the regulator stung the bank over the $6 billion "London Whale" derivatives trading dispute. The FCA had argued it...

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