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.


