Arab Today, arab today jpmorgan misled investors on derivatives
Last Updated : GMT 21:19:19
Arab Today, arab today
Arab Today, arab today

JPMorgan misled investors on derivatives

Arab Today, arab today

Arab Today, arab today JPMorgan misled investors on derivatives

Washington - UPI

JPMorgan Chase misled investors and regulators failed to act on warnings about trades that led to at least $6 billion in losses, U.S. Senate investigators said. The Senate Permanent Subcommittee on Investigations issued a report Thursday that concluded JPMorgan Chase ignored mounting risk associated with the complex derivatives trades and took steps to mislead investors as losses mounted. The report accuses the Office of the Comptroller of the Currency of either failing to see warning signs or deliberately downplaying risks, The Hill reported. The report stops short of accusing JPMorgan Chase Chief Executive Jamie Dimon or any other executives of violating the law and does not recommend new legislation, although it does recommend stronger oversight of derivatives trading, The Hill said. A JPMorgan Chase spokesman said the company has \"acknowledged mistakes\" but said senior executives \"acted in good faith and never had any intent to mislead anyone.\" Subcommittee Chairman Carl Levin, D-Mich., said the investigation makes clear the U.S. financial system has \"daunting vulnerabilities\" and called for tougher implementation of the so-called Volcker rule, which limits some trading by banks. Ranking member John McCain, R-Ariz., said the losses were the fault not only of JPMorgan Chase executives, but also federal regulators. \"They failed to notice or stop these reckless investments even though they had 65 regulators physically located at JPMorgan sites,\" McCain said. The subcommittee is scheduled to hear testimony Friday from bank executives and regulators, The Hill said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jpmorgan misled investors on derivatives Arab Today, arab today jpmorgan misled investors on derivatives

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today jpmorgan misled investors on derivatives Arab Today, arab today jpmorgan misled investors on derivatives

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday