JPMorgan Chase In Talks To Settle ‘London Whale’ Scandal For US$600mn


News: US financial services company JPMorgan Chase is in discussions with a number of regulators to potentially settle investigations into massive losses on derivatives positions it took in London, according to Reuters. The bank is looking to settle the probes for about US$600mn , as it hopes to head- off pursuit of the case by regulators , including the US Securities and Exchange Commission and the UK Financial Conduct Authority . JPMorgan Chase lost more than US$6bn over large positions in credit derivatives taken by a former trader , nicknamed the ' London W hale ' for the size of his buys.

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Geography: United States, Global

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