JP Morgan fined by the FCA, SEC and two more regulators for serious failings which led to its London Whale trades
JP Morgan Chase has been fined a combined $920m by regulators
on both sides of the Atlantic for serious failings which led to
its chief investment office’s London Whale trades,
The bank lost around $6bn due to the trades which occurred
during 2012, with derivatives positions which were at risk of
substantial losses from small adverse market moves.
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