Macris v Financial Conduct Authority

The Upper Tribunal has agreed, on a reference brought by Mr Achilles Macris, that the FCA prejudicially identified him in its Final Notice directed to JP Morgan in respect of the “London Whale” affair.  The decision breaks new ground in explaining the circumstances in which the FCA must accord third party rights in serving a Warning Notice or Decision Notice, pursuant to section 393 FSMA.

Javan Herberg QC acted for Mr Macris.