No penalties for JP Morgan over $6 billion risk management failure and AML shortfalls

JP Morgan

The US Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board ordered JP Morgan to tighten up risk management and anti-money laundering (AML) controls in two consent orders published yesterday. But no penalties were imposed on the bank or on individuals for the failures that saw the bank lose $6 billion in ill-judged credit derivative trades in the period leading up to 2012.

JP Morgan's chief investment office (CIO) made a series of risky credit derivatives trades that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: