JPMorgan fined $920 mn in'London whale' case | Bangkok Post: news

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JPMorgan fined $920 mn in'London whale' case

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Banking giant JPMorgan Chase agreed Thursday to pay $920 million in fines to US and British regulators over actions involved in last year's "London whale" trading debacle. 

People walk by JP Morgan Chase headquarters in New York, August 14, 2013.

"JPMorgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses," the US Securities and Exchange Commission said in announcing the settlement.

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