S.E.C. Opens Investigation Into JPMorgan's $2 Billion Loss

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S.E.C. Opens Investigation Into JPMorgan’s $2 Billion Loss

S.E.C. Opens Investigation Into JPMorgan’s $2 Billion Loss

Oh no. They will neither “admit nor deny”… Shareholders best get ready!

NYT-

Regulators are investigating potential civil violations surrounding the $2 billion loss that JPMorgan Chase disclosed on Thursday, raising further questions about trading activities at the nation’s biggest bank.

The Securities and Exchange Commission recently opened a preliminary investigation into JPMorgan’s accounting practices and public disclosures about the trades, according to people briefed on the matter, who spoke on the condition of anonymity because the case is not public. Regulators learned about the activities in April, and formally opened an investigation in recent days, the people said.

[NEW YORK TIMES]

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