Daily News: August 29, 2013

Reuters: JPMorgan May Settle ‘Whale’ Probes for $600MM

Reuters reported that JPMorgan Chase is in talks with a group of regulators, including U.S. prosecutors, to settle probes of the bank’s “London Whale” trading losses for about $600 million, citing a person familiar with the talks.

According to Reuters, regulators, including the U.S. SEC and the UK Financial Conduct Authority, are in intense negotiations with lawyers for JPMorgan to reach a global settlement, the source said.

To read the Reuters article click here.

Previously on abfjournal.com: WSJ: JPMorgan Whale Trader Arrested in Spain, August 28, 2013