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UK FCA loses case against former JPMorgan trader

The Tax and Chancery Chamber of the Upper Tribunal in the U.K.ruled in favor of Julien Groutafter the former JPMorgan Chase &Co. trader filed a complaint that the country's Financial Conduct Authorityrevealed his identity in their pursuit of the London Whale case,putting the watchdog in breach of disclosure and anonymity rules, the Financial Times reported July 14.

The court concluded that the FCA should not have identified Grout,who was part of the team of "London Whale" Bruno Iksil that was in causing heavy tradinglosses for JPMorgan, in its finding surrounding the case, the FT wrote.