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JPMorgan Chase & Co
U.S. Securities and Exchange Commission Chairman Mary Schapiro said that regulators are monitoring JPMorgan Chase & Co. (JPM) 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.
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