Daily News: December 9, 2013

WSJ: J.P. Morgan in Talks with U.S. Attorney Over Madoff Warnings

The Wall Street Journal reported U.S. Attorney Preet Bharara’s office is examining why J.P. Morgan didn’t provide U.S. regulators with a formal “suspicious activity report” raising concerns about Bernard Madoff, despite having done so with a U.K. agency more than a month before Madoff’s arrest, according to people close to the probe.

The Wall Street Journal said further J.P. Morgan is negotiating a settlement with the U.S. attorney’s office that will likely include a deferred-prosecution agreement and a fine relating to alleged inadequate warnings about Madoff, sources said.

Previously on abfjournal: Bloomberg: JPMorgan Banker Approved $200MM Madoff Loan, November 8, 2013

To read the entire Wall Street Journal article, click here.