Tag: London Whale

• Wednesday, October 23rd 2013 - 00:01 UTC

  JP Morgan faces record 13 billion dollars fine for mortgage-backed securities

  

  US banking giant JP Morgan is set for a record 13 billion dollars fine to settle investigations into its mortgage-backed securities, US media reports have said. A tentative deal is believed to have been reached in talks with senior US Justice Department officials.

• Friday, September 20th 2013 - 20:58 UTC

  JP Morgan-Chase pays hefty fine in the US and UK; former staff face criminal charges

  

  US bank JP Morgan Chase has agreed to pay four regulators 920 million dollars relating to a 6.2bn loss incurred as a result of the “London Whale” trades. The settlement is the third biggest banking fine by US regulators, and the second largest by UK regulators. As part of the deal JP Morgan admitted violating US federal securities laws.