{"id":5508,"date":"2013-09-19T00:00:00","date_gmt":"2013-09-19T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/09\/jpmorgan_to_pay_920m_to_settle"},"modified":"2022-05-05T08:40:13","modified_gmt":"2022-05-05T13:40:13","slug":"jpmorgan-to-pay-920m-to-settle","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/jpmorgan-to-pay-920m-to-settle\/","title":{"rendered":"JPMorgan to Pay $920M to Settle London Whale Debacle & $80M Over Credit-Card Practice Allegations"},"content":{"rendered":"\n

JPMorgan Chase (JPM) <\/a>has agreed to pay a $920 million fine to resolve securities fraud <\/a>investigations conducted by the Federal Reserve, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, and the Financial Conduct Authority in London. The probes were related to the multibillion-dollar trading losses the bank is blamed for in last year\u2019s London Whale debacle.<\/p>\n

The regulators cited JPMorgan for \u201cdeficiencies\u201d related to controls assessments, risk oversight, and internal financial reporting. The bank\u2019s senior management is getting the brunt of the blame for purportedly not citing concerns about the losses to the board. However, no charges have been filed in this case against any executive. <\/p>\n

Also, the SEC was able to extract an acknowledgement from JPMorgan that it was in violation of federal securities laws over this matter. This comes in the wake of the regulator\u2019s decision to reverse its policy that previously let banks settle without having to deny or admit to having done anything wrong. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

JPMorgan Chase (JPM) has agreed to pay a $920 million fine to resolve securities fraud investigations conducted by the Federal Reserve, the Securities and Exchange Commission, the Office of the Comptroller of the Currency, and the Financial Conduct Authority in London. The probes were related to the multibillion-dollar trading losses the bank is blamed for […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3959,3752,3958],"tags":[],"class_list":["post-5508","post","type-post","status-publish","format-standard","hentry","category-derivatives","category-financial-firms","category-jp-morgan-chase"],"yoast_head":"\nJPMorgan to Pay $920M to Settle London Whale Debacle & $80M Over Credit-Card Practice Allegations — Investor Lawyers Blog — September 19, 2013<\/title>\n<meta name=\"description\" content=\"JPMorgan Chase (JPM) has agreed to pay a $920 million fine to resolve securities fraud investigations conducted by the Federal Reserve, the Securities and — September 19, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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