Deals
JPMorgan’s Hannam Steps Down, Pledging to Appeal FSA Fine
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Ian Hannam, one of JPMorgan Chase & Co.’s top advisers to mining companies, stepped down to appeal a 450,000-pound ($720,000) fine from the U.K. markets regulator for disclosing inside information.
Hannam, JPMorgan’s global chairman of equity capital markets, e-mailed a potential customer in 2008 with details of a bid for his client Heritage Oil Plc, as well as news of an oil find, the Financial Services Authority said in a statement today. The 56-year-old is the most senior banker to be fined by the FSA in its four-year-old crackdown on insider trading.