The UK's Financial Conduct Authority said Tuesday it has fined Ian Hannam, the former chairman of capital markets at JP Morgan in London and one of the bankers most closely associated with London's mega-mining boom, £450,000 ($768,654) for engaging in market abuse.

The UK's Financial Conduct Authority originally levied the fine in 2012 against Hannam for improperly disclosing insider information. Hannam resigned from JP Morgan in April 2012 to fight the ruling and filed a court appeal which he lost in May .