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Senior JP Morgan banker Ian Hannam quits after GBP450,000 FSA fine for market abuse.
(From Guardian Unlimited)
One of JP Morgan Cazenove's most senior banks has resigned after the City watchdog announced it was fining him GBP450,000 for market abuse.
Ian Hannam - chairman of capital markets at JP Morgan - has decided to appeal against the decision, and said he had resigned because it would be "an unfair distraction to my clients and colleagues."
The Financial Services Authority said in its opinion, Hannam had disclosed inside information in two emails sent in September and October 2008 to a prospective client.
The information related to a JP Morgan client Heritage Oil - which has coincidentally issued a positive update today - …
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