Bloomberg News

CFTC to Review Trades

May 11, 2012

The main U.S. derivatives regulator has been reviewing JPMorgan Chase & Co. (JPM:US)’s derivatives trading activities since last month, according to a person briefed on the matter.

The Commodity Futures Trading Commission hasn’t opened an enforcement action against the bank, according to the person, who spoke on condition of anonymity because the review is private. JPMorgan Chief Executive Officer Jamie Dimon said yesterday that the firm suffered a $2 billion loss from trading credit derivatives, which he attributed to “egregious” failures in a unit managing risks.

To contact the reporter on this story: Silla Brush in Washington at sbrush@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net


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Companies Mentioned

  • JPM
    (JPMorgan Chase & Co)
    • $59.99 USD
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