Now that wasn't so hard, was it? SEC extracts admission and cash. - GWCJP Morgan Chase to pay $920M in rogue trading case _ NY Times Dealbook
More than a year after a group of traders at JPMorgan Chase caused a multibillion-dollar loss, government authorities on Thursday imposed a $920 million fine on the bank and shifted scrutiny to its senior management.Extracting the fines and a rare admission of wrongdoing from JPMorgan Chase, the nation’s largest bank, regulators in Washington and London took aim at a pervasive breakdown in controls and leadership at the bank. The deal resolves investigations from four regulators: the Securities and Exchange Commission, theOffice of the Comptroller of the Currency, the Federal Reserve and the Financial Conduct Authority in London.