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UK drops ‘London whale’ probe

The UK financial watchdog has dropped its investigation of Bruno Iksil, the former JPMorgan

trader known as the “London Whale” whose trades led to $6.2bn in losses, clearing him in the three-year probe.

The Financial Conduct Authority’s enforcement division sought to bring a civil action against Mr Iksil for failing to prevent or detect mismarking within JPMorgan’s chief investment office.

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