Financial Markets
2 months ago
A Missouri pension fund has sued JPMorgan Chase executives and board members over $6.2bn in trading losses that were revealed last year, citing a recent U.S. Senate report that criticized the bank's management for failing to catch the bad trades.
Financial Markets
2 months ago
U.S. Senator Carl Levin said he plans to forward results from his panel’s nine-month investigation into JPMorgan Chase’s record trading loss to the Justice Department and Securities and Exchange Commission to review for possible wrongdoing by company executives.
Financial Markets
2 months ago
Jamie Dimon just warned shareholders that JPMorgan Chase will face more sanctions from regulators in the coming months.
Financial Markets
3 months ago
JPMorgan Chase has clawed back more than $100m in pay from managers responsible for its record trading loss last year and awarded CEO Jamie Dimon less than three of his top lieutenants.
Financial Markets
3 months ago
Making lemonade out of lemons.
Financial Markets
3 months ago
The U.S. Department of Justice is in the advanced stages of an investigation into whether former traders in JPMorgan Chase's chief investment office in London engaged in criminal misconduct in the marking of credit positions last year, according to someone familiar with the matter.
Financial Markets
3 months ago
JPMorgan Chase has been in an uncomfortable spotlight over the last week, after the release of a scathing Senate report related to its multibillion-dollar trading loss last year.
Financial Markets
3 months ago
The "London Whale" risky trades involving JPMorgan is not going to spell the end of big American banks, according to Paul Volcker, former chairman of the U.S. Federal Reserve.
Financial Markets
3 months ago
Bruno Iksil, the JPMorgan trader known as the London Whale, had an e-mail sent to about 20 colleagues last year estimating almost double the daily losses his book had shown thus far. Then the phone rang.
Financial Markets
3 months ago
Including the email from a former JPMorgan Market Risk executive who dismissed initial loss estimates from the infamous 'London Whale' trades as 'garbage'.