JPMorgan Chase & Co., the largest U.S. bank by assets, is weighing whether to ban traders from using electronic chat rooms to communicate with peers at other firms as the forums draw scrutiny from global regulators.
George Canellos, co-chief of the U.S. Securities and Exchange Commission’s enforcement division, said investigators are turning their focus to enforcing new regulations from the 2010 Dodd-Frank Act.
HSBC Holdings Plc, the British bank accused of helping drug lords in Mexico to launder money, apologized to investors for compliance failings and set aside $2 billion more to cover the costs of fines and redress.
The International Swaps & Derivatives Association said it will partner with Markit Group Ltd. to develop a system enabling counterparties to amend over-the- counter derivatives documentation in order to help compliance with Dodd-Frank regulations.
