The New York Federal Reserve Bank sharply criticized an internal probe carried out by the Fed's inspector general on the handling of J.P. Morgan's 'London Whale' case, according to a full version of the probe released on Thursday.
The Federal Reserve's New York branch knew about risks JPMorgan Chase was taking with its massive 'London Whale' derivatives bets four years before they imploded, but it failed to act properly to head them off, the U.S. central bank's inspector general said.
The SEC conducted a dragnet to determine who in the agency allegedly leaked information about a JP Morgan "London Whale" settlement, CNBC has learned.
Former JPMorgan trader Julien Grout was granted a court review of a U.K. regulator’s decision to drop him from a probe into a $6.2bn trading loss before he was allowed to respond to the allegations.
A former JPMorgan trader has filed an appeal with a London tribunal court to challenge civil findings made by Britain's financial watchdog against the bank over the 'London Whale' debacle of 2012, the Financial Times reported on Sunday, citing tribunal records.
JPMorgan has said its operation that produced a $6.2bn trading loss in 2012 will be merged with another business unit.
A lawyer for a former JPMorgan trader accused of helping to hide trading losses tied to a $6.2bn financial scandal said on Wednesday his client was open to leaving France to voluntarily face U.S. criminal charges.
JPMorgan must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2bn in the 'London Whale' scandal.
JPMorgan revised its gauge of market gains and losses to incorporate new regulatory requirements, resulting in a jump in the frequency of losses last year.
Federal Reserve Governor Daniel Tarullo said regulators are writing a final version of the Volcker rule to block any repeats of JPMorgan’s $6.2bn in losses last year from derivative bets by a trader dubbed the London Whale.
While regulators were quick to crow and politicians quick to gloat over JPMorgan Chase's most recent troubles, banking analysts largely shrugged.
JPMorgan expects to be fined by authorities over last year’s $6.2bn trading loss, which led to criminal charges against two former employees, said a person familiar with the matter.
Jamie Dimon just warned shareholders that JPMorgan Chase will face more sanctions from regulators in the coming months.