Daily News: September 23, 2013

Bloomberg: JPMorgan Admission a Win for SEC Policy

Bloomberg reported that the U.S. Securities and Exchange Commission, in settling claims with JPMorgan Chase & Co. over its handling of a $6.2 billion trading loss, landed its biggest victory in fulfilling a pledge to force wrongdoers to admit guilt.

JPMorgan admitted it violated federal securities laws when failing to catch traders hiding 2012 losses, as part of the $920 million agreement with regulators in the U.S. and U.K, Bloomberg said.

To read the entire Bloomberg story, click here.