Daily News: December 12, 2012

JPMorgan Pressed by SEC on Prop Trading Before Whale Loss

Bloomberg is reporting that JPMorgan Chase was pressed by U.S. regulators to strengthen investor disclosures on proprietary trading almost a year before a wrong-way bet on credit derivatives cost the bank at least $6.2 billion.

Bloomberg said that based on letters that were made public on December 11, 2012 the SEC was seeking information about the bank