on September 20, 2013 in World News
JPMorgan Chase slammed with $920mn fine
JPMorgan Chase slammed with $920mn fine over ‘London Whale’ probe JPMorgan Chase agreed to pay $920 in fines to settle probes related to the ‘London Whale’ financial debacle of 2012 in which bankers covered up $6.2 billion in losses. The settlement was announced by the Securities and Exchange Commission (SEC) and the Federal Reserve on Thursday September 19. The firm “exercised inadequate oversight over the CIO and failed to implement adequate controls to ensure the full and adequate disclosure of relevant information to senior management” the Fed said in order. Former JPMorgan traders Javier Martin-Artajo and Julien Grout were formally… View Article
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