Britain’s markets watchdog did not wrongfully identify a former JPMorgan (JPM.N executive in the “London Whale” scandal, the Supreme Court ruled on Wednesday in a landmark case that endorses a regulatory policy of speedy corporate settlements. The majority ruling by the UK’s highest court overturned a Court of Appeal decision that the Financial Conduct Authority […]

U.S. prosecutors on Tuesday unveiled criminal charges against three men accused of running a sprawling computer hacking and fraud scheme that included a huge attack against JPMorgan Chase & Co and generated hundreds of millions of dollars of illegal profit. Gery Shalon, Joshua Samuel Aaron and Ziv Orenstein, all from Israel, were charged in a […]

The FCA levied around £1.5bn in fines during 2014, nearly three times the amount raised the year before. Last year was one of bumper fines, with five banks told to pay a record £1.1bn for failing to control business practices in their G10 spot foreign exchange trading operations. Citibank NA was fined £225.5m, HSBC £216.3m, […]

JPMorgan (JPM.N), UBS (UBSN.VX) and Credit Suisse (CSGN.VX) were fined a total of 94 million euros ($120 million) by the European Commission for taking part in cartels in the financial sector. The Commission handed JPMorgan a 61.7-million-euro fine for rigging the Swiss franc Libor benchmark interest rate between March 2008 and July 2009. It was […]

JP Morgan, the US financial services giant, is allegedly closing the bank and credit card accounts held by non-domestic politically exposed persons (“PEP“) in the US in order to contain the risks and the costs of compliance with anti-money laundering law in respect of PEPs. That would include the accounts of high profile public officials […]

1.  It was not part of the authority’s case that banker deliberately set out to commit market abuse, tribunal says. 2.  The Upper Tribunal has upheld a Financial Conduct Authority decision, finding that the former chairman of capital markets at JP Morgan Cazenove engaged in two instances of market abuse. 3.  Ian Hannam was appealing […]

JP Morgan, the US financial services giant, is allegedly closing the bank and credit card accounts held by non-domestic politically exposed persons (“PEP“) in the US in order to contain the risks and the costs of compliance with anti-money laundering law in respect of PEPs. That would include the accounts of high profile public officials […]

Bernie Madoff once told a reporter from his prison cell in North Carolina that JPMorgan “doesn’t have a chance in hell” of avoiding liability in connection with his 20-year Ponzi scheme. After all, JPM served as Bernie’s principal banker from 1986 on and enabled him to launder the $17.3 billion he swindled from thousands of […]