Federal regulators had a suspicion that currency traders have bonded together to increase costs of foreign currencies in order to gain on their investments.
london whale
Breaking News
Major banking institutions including JPMorgan Chase might have predicted the direction of the probe conducted by the Financial Conduct Authority in Britain.
New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
JP Morgan Chase & Co. had been poised to pay approximately USD900 million to settle claims from both US and UK regulators.
A lawyer for a JP Morgan Chase & Co. ex-employee argued with US prosecutors that his client was just following orders from his superiors in indicating prices for the "London Whale" deal.
Although Javier Martin-Artajo had bought himself time by getting arrested in Madrid, lawyers involved in getting the JP Morgan ex-employee back believed that his extradition, though delayed, was inevitable.
Subscribe to VCpost newsletter
Most Popular
- SSDI Payment April 2024: Who Will Receive Social Security Benefits Today?
- Brazilian Woman Wheels Her Dead Uncle Into the Bank to Withdraw Loan in His Name
- Trump Media’s First Auditor Quits After Just a Few Months on the Job: Report
- Tesla Spends $200,000 in Promoting Elon Musk's Social Media Platform X Following Mention of 'Minimal Advertising Efforts'
- UPDATE: Google Employees Arrested and Fired After Staging Protests Over Company's Project Nimbus Deal With Israel
- Social Security Benefits: 2025 COLA Predicted to Increase Amid Rising Inflation
- Spirit Airlines Staff at Florida Airport Filmed Cursing a 'Karen' Passenger After Moaning About Her Flight
- Navigating Tariff Tides: A Conversation with Jim Pratt on Supply Chain Strategies Ahead of 2024 Elections
