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SFO weighs up London Whale investigation

by Daniel Grote on Sep 23, 2013 at 07:49

SFO weighs up London Whale investigation

The Serious Fraud Office (SFO) is weighing up the case for a criminal investigation into the ‘London Whale’ trading scandal, according to The Sunday Times.

Last week, JP Morgan was fined £573 million by UK and US regulators over the scandal, which saw traders build up huge losses at the beginning of last year.

The SFO has been passed documents in relation to the case, but has yet to launch a formal investigation. ‘We are liaising with our US counterparts as well as the Financial Conduct Authority,’ it told the paper.

Criminal charges have been filed in the US against two of the traders involved, Javier Martin-Artajo and Julien Grout.

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