Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

JPMorgan Balks at Taking Back Trader After Unfair Firing Ruling

by
November 26, 2021
in Trading News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

(Bloomberg) — JPMorgan Chase & Co. doesn’t want to give a former trader his job back despite a finding that he was unfairly dismissed by the bank to “appease its regulators” in a market-spoofing probe.

Most Read from Bloomberg

RELATED POSTS

US Stock Futures Rise as Traders Wait for Powell: Markets Wrap

Severe Crash Is Coming for US Office Properties, Investors Say

Billionaire Family Feud Puts a Century-Old Business Empire in Jeopardy

Asia’s Richest Man Looks to Walton Family Playbook on Succession

The 24-Year-Old Aiming to Dethrone Victoria’s Secret

The Winners and Losers From a Year of Ranking Covid Resilience

An Arab City’s Booming Art Scene Is Also a Grab at Soft Power

Bradley Jones, a former cash equities trader, is this week arguing for an order of reinstatement from the London employment tribunal that ruled in his favor in July. The U.S. bank contends his job no longer exists and no comparable role is available. It also said it wasn’t confident that Jones could be certified as fit and proper under market regulator’s guidelines, despite his successful wrongful termination claim.

JPMorgan, which is appealing that ruling, further argues Jones doesn’t genuinely wish to work there again and is merely attempting to circumvent the nearly 90,000-pound cap on compensation awards in U.K. employment cases.

The bank declined to comment on the matter. A lawyer for Jones didn’t immediately respond to a request for comment.

Read more: Inside the JPMorgan Trading Desk the U.S. Called a Crime Ring

Jones successfully argued to the tribunal earlier this year that he was only fired because the bank wanted to show it was taking a tougher line on a spoofing scandal that cost it close to $1 billion in penalties.

The tribunal judge in his earlier ruling rejected JPMorgan’s claims that Jones engaged in spoofing himself and found the bank fired him “because of its desire to appease its regulators by showing it was ‘cleaning up its act.’”

On the witness stand in April, Jones expressed a desire to return to his old job, noting that some of his colleagues walked out of the bank’s London office the day he was fired.

“My colleagues at JPM are my friends, and some of them are my best friends,” Jones said in a witness statement released Wednesday. “I would like to work with them again, as I did previously, before this unfortunate, disruptive and frankly upsetting period in my life.”

Most Read from Bloomberg Businessweek

Medical Debt Is Crushing Black Americans, and Hospitals Aren’t Helping

Wildfires Are Getting Worse, and One Chemical Company Is Reaping the Benefits

How Child Care Became the Most Broken Business in America

Boeing Built an Unsafe Plane, and Blamed the Pilots When It Crashed

©2021 Bloomberg L.P.

ShareTweetPin

Related Posts

US Stock Futures Rise as Traders Wait for Powell: Markets Wrap

by
October 2, 2023
0

S&P Futures 4,353.50 +28.00(+0.65%)   Dow Futures 33,921.00 +196.00(+0.58%)   Nasdaq Futures 15,000.50 +134.00(+0.90%)   Russell 2000 Futures 1,810.50 +11.90(+0.66%)...

Severe Crash Is Coming for US Office Properties, Investors Say

by
October 2, 2023
0

S&P Futures 4,353.50 +28.00(+0.65%)   Dow Futures 33,920.00 +195.00(+0.58%)   Nasdaq Futures 15,000.75 +134.25(+0.90%)   Russell 2000 Futures 1,810.50 +11.90(+0.66%)...

Apple and 4 More Quality Stocks to Buy After the Selloff

by
October 2, 2023
0

Apple, Amazon, and 3 More Quality Stocks to Buy After the Selloff | Barron's The market has sold off, and...

Dow Jones Futures Rise With Government Shutdown Averted; Tesla Deliveries Due

by
October 2, 2023
0

Post Content

Powerball jackpot just hit $1.04 billion. Here’s what you’d pocket after taxes.

by
October 2, 2023
0

Post Content

Next Post

Fund manager says drop your crisis mindset, look at these stocks for 3- to 5-year returns

Softbank fall steepens after report that Chinese regulators have asked Didi to delist from U.S.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net