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Tag Archives: trading

JPMorgan pays $920M, admits fault in trading loss

WASHINGTON — JPMorgan Chase & Co. will pay $920 million and has admitted that it failed to oversee trading that led to a $6 billion loss and renewed worries about serious risk-taking by major banks. U.S. and U.K. regulators said ...

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Ex-JPMorgan exec says Dimon withheld data

WASHINGTON — JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses, according to congressional testimony Friday from the firm’s former chief financial officer. Douglas ...

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Nasdaq sets aside $40M for Facebook investors

NEW YORK — The Nasdaq stock exchange said Wednesday that it plans to hand out $40 million in cash and credit to reimburse investment firms that got ensnared by technical problems with trading Facebook stock. FINRA, the financial industry’s self-regulatory ...

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Next up for JPMorgan’s Dimon: Facing the shareholders

NEW YORK — JPMorgan Chase CEO Jamie Dimon owned up to stock analysts and went on TV to accept blame for a $2 billion trading mistake. Next he faces shareholders, who are considerably less wealthy since the blunder was disclosed. ...

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Legg Mason’s 4th quarter profit up 10 percent

Baltimore-based Legg Mason Inc. said Tuesday that its fiscal fourth-quarter profit increased 10 percent as it cut expenses to offset the impact of lower stock and bond assets. Net income rose to $76.1 million, or 54 cents a share, in ...

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