Two traders formerly employed by JP Morgan were charged by federal prosecutors relating to the bank's USD6.2 billion loss in the derivatives trade.
Tags: London whale
A strategic alliance was born in currency trading fraud - federal investigators
Federal regulators had a suspicion that currency traders have bonded together to increase costs of foreign currencies in order to gain on their investments.
Banks foresee currency manipulation probe as top executives go on leave
Major banking institutions including JPMorgan Chase might have predicted the direction of the probe conducted by the Financial Conduct Authority in Britain.
New amendments to pending Volcker rules may postpone implementation
New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
JPMorgan to settle “whale” probes with USD900 million payment
JP Morgan Chase & Co. had been poised to pay approximately USD900 million to settle claims from both US and UK regulators.
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