London Whale

NYSE explains trading halt

Bernardo Mariano
July 10, 2015
A summary of the latest exchange and industry news.

JPMorgan wins dismissal of shareholder lawsuit over London Whale

Jonathan Stempel, Reuters
June 16, 2015
JPMorgan Chase & Co officials including Chief Executive Officer Jamie Dimon do not have to face a shareholder lawsuit claiming they failed to properly investigate the "London Whale" trading scandal that caused $6.2 billion in losses, a federal appeals court ruled on Tuesday.

Is Fed too close to big banks?

Christopher Condon and Jeff Kearns, Bloomberg
November 21, 2014
On the eve of a Senate hearing today into whether the Federal Reserve has been “captured” by the institutions it is supposed to regulate, the Fed announced a broad review of its supervision of the largest banks

The Blotter: JPMorgan gets "whale" of a fine

Ginger Szala
October 18, 2013
Regulatory actions taken despite government shut down

JPMorgan said to settle CFTC London Whale probe for $100 million

Silla Brush, Bloomberg
October 15, 2013
Bloomberg reports that JPMorgan will pay about $100 million to settle a probe into the bank’s botched derivatives bets last year.

Is piling on JP Morgan necessary?

Philip McBride Johnson
September 17, 2013
Fining JP Morgan is not what lawyers call "disgorgement" where illicit profits are clawed back, nor is it "restitution"— the bank itself was the victim.

JPMorgan trader fighting charges said to argue Iksil gave orders

Keri Geiger and Dawn Kopecki, Bloomberg
September 13, 2013
Julien Grout, a former JPMorgan Chase & Co. trader charged with trying to hide the bank’s record trading loss last year, is arguing to prosecutors that he was following orders from his then-boss, Bruno Iksil.

Ex-JPMorgan traders urged to surrender on whale case charges

Patricia Hurtado, Keri Geiger, Christie Smythe, Greg Farrell , Bloomberg
August 15, 2013
U.S. prosecutors urged former London-based JPMorgan Chase & Co. traders Javier Martin-Artajo and Julien Grout to surrender and face charges that they attempted to hide trading losses tied to the bank’s $6.2 billion loss on derivatives bets last year.

Former JPMorgan bankers charged in $6.2 billion loss probe

Patricia Hurtado, Keri Geiger and Dawn Kopecki, Bloomberg
August 14, 2013
Two former JPMorgan Chase & Co. employees were charged by U.S. prosecutors with attempting to conceal trading losses at the largest U.S. bank last year as part of a probe of its $6.2 billion loss on derivatives bets.

London whale resurfaces to help U.S. with JPMorgan trading probe

Dawn Kopecki, Keri Geiger and Patricia Hurtado, Bloomberg
August 12, 2013
The former trader whose bets caused more than $6.2 billion in losses last year is now central to any U.S. charges against his former colleagues.