New, Barr Quoted by New York Times After Great Britain Drops Iksil Investigation

News / July 21, 2015

Partners Jonathan New and Jonathan Barr are quoted in a New York Times story published July 17, 2015. The story follows the decision by Britain’s Financial Conduct Authority not to take any action against Bruno Iksil—ending the FCA’s long-running investigation against Iksil related to a $6.2 billion trading loss for JPMorgan Chase in 2012.

In 2013, U.S. authorities entered into nonprosecution and cooperation agreements with Iksil, who is represented by BakerHostetler. “Four regulators in two countries investigated this thoroughly and came to the same conclusion, which is that it wasn’t appropriate to pursue any charges against Mr. Iksil,” New told the Times. Barr said, “He was never a rogue trader. The trading strategy was approved and directed by higher-ups. Making him the face of this scandal was very unfair.”

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