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.
A former JPMorgan Chase executive accused of helping to hide trading losses in a $6.2bn financial scandal at the bank rejected on Friday a U.S. extradition request, which will now rest in the hands of courts in his native Spain.
A former JPMorgan executive in Europe is appealing findings by Britain's financial watchdog that criticised his actions in connection with the 'London Whale' scandal.
JPMorgan’s chief executive officer, Jamie Dimon, initially called the bank’s 'London whale' trading debacle a 'tempest in a teapot'. Some teapot.
JPMorgan has agreed to pay about $100m to resolve the Commodity Futures Trading Commission’s probe into the firm’s botched derivatives bets last year, according to people briefed on the matter.
JPMorgan Chase has denied Commodity Futures Trading Commission charges that it manipulated certain credit markets as part of its doomed "London Whale" trades, according to two people familiar with the matter, indicating the bank is prepared to fight the regulator's case in court.
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.