Statement on Achilles Macris

On 19 May 2015 the Court of Appeal ruled that the FCA should have given Mr Macris the right to make representations on certain matters set out in the final notice issued to JPMorgan Chase Bank N.A (JP Morgan) on 19 September 2013 which related to the ‘London Whale’ trades. Such rights are known as ‘third party rights’. The FCA did not give Mr Macris third party rights because we did not consider that he was identified in the notice. The Court of Appeal decided that Mr Macris was identified.

The FCA is seeking permission to appeal further from the Supreme Court.

Previous FCA statement on Achilles Macris