Bloomberg -- JPMorgan Chase & Co., seeking to end probes of a trading debacle that damaged its reputation for risk-management, agreed to pay about $920 million for failing to implement adequate controls and providing incomplete information to regulators and its board.
The settlement resolves claims by the U.S. Securities and Exchange Commission, Office of the Comptroller of the Currency, Federal Reserve and the U.K. Financial Conduct Authority, the Fed said today in a consent order against the bank. The Justice Department and Commodity Futures Trading Commission are among agencies still investigating the trading loss in London at the chief investment office, a unit of the New York-based bank that was supposed to help reduce risk and manage excess deposits.
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