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JP Morgan Reprimanded

By: Big 2 News Staff

Updated: January 16, 2013

US regulators have given JP Morgan a slap on the wrist in the aftermath of a six-billion dollar loss revealed last year.

The bank has been ordered to improve its money-laundering controls and risk management techniques.

It's the first regulatory response linked to ill-advised bets on credit derivatives by a JP Morgan trader dubbed the "London Whale."

The bank consented to the orders without admitting or denying any wrongdoing, and it won't face any fines.

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