JPMorgan Chase CEO Jamie Dimon told U.S.
House members that he complied with disclosure rules in warning investors about
changes that contributed to the bank’s trading loss of at least $2 billion, Bloomberg reports.
“We disclosed what we
knew when we knew it,” Dimon told lawmakers today at a House Financial Services
Committee hearing in Washington.
Dimon’s comments came during his second appearance on
Capitol Hill in less than a week to explain how the firm lost billions on
derivatives trades. U.S. Securities and Exchange Commission Chairman Mary Schapiro,
speaking from the same witness table earlier, said the agency has a “wide
panoply” of penalties at its disposal in pursuing sanctions against JPMorgan.
The bank could pay penalties if investigators find that it violated disclosure
or other rules, she said...
More? Turn to http://www.bloomberg.com/news/2012-06-18/dimon-faces-harsher-and-crazier-house-crowd-in-second-round.html
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