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JPMorgan Chase to pay $920 mn fine in 'London whale' case

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(Globalpost/GlobalPost)

Banking giant JPMorgan Chase Thursday agreed to pay $920 million to settle securities law violations US and British government agencies related to the "London whale" trading debacle.

The global settlement includes an admission by JPMorgan that it violated US securities laws. The violations stem from the misstatement of financial results and poor internal controls over employees who were responsible for some $6.2 billion in trading losses.

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http://www.globalpost.com/dispatch/news/afp/130919/jpmorgan-chase-pay-920-mn-fine-london-whale-case