Trend Results : "London Whale"


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How To Avoid Getting Arrested When Mismarking Your Month-End Bond Book

Mismarking one's book, especially in illiquid, OTC securities usually for month-end, P&L purposes is nothing new. We noted it several years ago in the case of the JPM London Whale where, as we reported back in May 2012, JPM's CIO unit...Show More Summary

CalPERS Uses Unqualified “Expert” to Validate Its London-Whale-Style Deficient Risk Management

CalPERS tells its board that the very same lax risk management oversight structure that led to the London Whale fiasco is "best practice" when it clearly isn't.

London Whale Blasts JPMorgan Management: "For No Good Reason I Was Singled Out"

Usually, when TBTFs get caught doing something either illegal or just plain stupid, no actual humans are penalized. What typically happens is there’s a yearslong investigation during which the handful of regulators and politicians whose...Show More Summary

Opening Bell: 2.23.16

Bruno Iksil "objects to London whale nickname"; Yahoo attempts to fend off activist investor; Zenefits tells employees "Do not use the stairwells to smoke, drink, eat, or have sex"; and more.

Ex-JPMorgan Executive Fined $1.1 Million in ‘London Whale’ Case

A British regulator said the man had failed to report concerns about a portfolio in 2012, when a bad bet cost the bank $6.2 billion.

The boss of the 'London Whale' trader just got fined nearly £800,000

Britain's Financial Conduct Authority has fined the boss of the so-called "London Whale" trader nearly £800,000 ($1.15 million) for failing to communicate properly with the regulator. Former JP Morgan executive Achilles Macris — whoShow More Summary

Jamie Dimon, 10 years on, is hard bank CEO to beat

Looking back on a decade running JPMorgan, the boss has had missteps like the London Whale, big legal fines and clashes with regulators. Yet Dimon has fashioned a bank with leading market share, top-tier returns and a head start in fintech. It’s well placed for the next 10 years.

JPMorgan to pay $150 million in 'London Whale' U.S. class action

NEW YORK (Reuters) - JPMorgan Chase & Co has agreed to pay $150 million to resolve a securities fraud lawsuit by investors suing the bank over its "London Whale" trading scandal, which caused a $6.2 billion loss. The settlement was disclosed...Show More Summary

JPMorgan defeats London Whale shareholder lawsuit in U.S

By Jonathan Stempel NEW YORK (Reuters) - A federal appeals court said JPMorgan Chase & Co Chief Executive Jamie Dimon and other bank officials need not face a shareholder lawsuit claiming they did a bad job investigating the 2012 "London Whale" trading scandal that caused $6.2 billion of losses. Show More Summary

Ex-JPMorgan traders, citing arrest risk, avoid SEC deposition in N.Y

By Nate Raymond NEW YORK (Reuters) - Two former JPMorgan Chase & Co traders living abroad who face U.S. charges over the bank's $6.2 billion "London Whale" scandal won a bid on Wednesday to avoid sitting for a deposition in New York, where their lawyers say their arrest is likely. Show More Summary

JPMorgan ordered to face London Whale class action in U.S

By Jonathan Stempel NEW YORK (Reuters) - JPMorgan Chase & Co shareholders on Tuesday won court permission to pursue their securities fraud lawsuit against the bank over the "London Whale" trading scandal, which caused a $6.2 billion loss, as a class action. Show More Summary

"It's Laughable Really": Why No One, Especially Not Jamie Dimon, Will Be Held Accountable For London Whale

A few weeks back, Bruno Iksil, the man whose name shall live in CDX trading infamy and whose nicknames will forever haunt the desks at JP Morgan’s taxpayer-sponsored, London-based hedge fund (known in polite circles as "CIO"), got a break when the UK’s financial watchdog dropped its investigation saying it didn’t have a strong enough case. Show More Summary

Common Sense: Figures in ‘London Whale’ Trading Case Escape the Authorities’ Nets

An investigation into a trader whose risky bets cost JPMorgan Chase $6.2 billion has ended, but who, if anyone, will be held accountable remains an open question.

Free Willy: FCA Drops Case Against London Whale

Once upon a time, at JP Morgan’s London-based internal hedge fund CIO unit, a legend was born. Bruno Iksil — better known as “The London Whale” or “Voldemort” or “He Who Must Not Be Named” — carved out his place in the annals of CDXShow More Summary

'London Whale' escapes $1.5 million fine as U.K. regulator drops case

The U.K. Financial Conduct Authority has abandoned a proposed fine of about $1.5 million (1 million pounds) and an industry ban against the former JPMorgan Chase & Co. trader known as the London... To view the full story, click the title link.

Jamie Dimon talks about the time Jimmy Lee arranged for Tom Brady to call and cheer him up

JPMorgan & Chase CEO Jamie Dimon had a rough go of it during the London Whale scandal in 2012.  One of the banks' traders had lost more than $6 billion after making enormous derivatives bets, and the bank got a bad reputation for its risky behavior in the wake of the financial crisis. Show More Summary

JPMorgan wins dismissal of shareholder lawsuit over London Whale

By Jonathan Stempel NEW YORK (Reuters) - JPMorgan Chase & Co officials including Chief Executive Officer Jamie Dimon do not have to face a shareholder lawsuit claiming they failed to properly investigate the "London Whale" trading scandal that caused $6.2 billion in losses, a federal appeals court ruled on Tuesday. Show More Summary

Opening Bell: 5.22.15

JPMorgan won't face investors suits over London Whale; PE exec will be released from Uruguay prison; Ron Paul says run for your friggin lives; "Family-friendly water park slammed for hosting twerking contest"; and more.

London Whale 2.0: BofA Used Government-Backed Funds For "Reckless, Extremely Levered" Tax-Avoidance Trades

When we recently described in detail the reason, or rather 70.3 trillion reasons, why Citigroup scrambled to make sure the swap push-out provision language remained in the Cronybus government funding bill, we made it clear that thatShow More Summary

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