Bloomberg News

SEC’s Schapiro Says Regulators Monitoring JPMorgan After Loss

May 11, 2012

U.S. Securities and Exchange Commission Chairman Mary Schapiro said that regulators are monitoring JPMorgan Chase & Co. (JPM:US) after the bank said it suffered a $2 billion trading loss.

“I think it’s safe to say that all the regulators are focused on this,” she told reporters after speaking at an event in Washington.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said yesterday that the New York-based bank suffered a $2 billion trading loss after an “egregious” failure in its chief investment office. The flawed positions on synthetic credit securities remain volatile and may cost an additional $1 billion this quarter or next, Dimon told analysts yesterday.

To contact the reporter on this story: Steven Sloan in Washington at ssloan7@bloomberg.net

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


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