CFTC To Investigate $2B JPMorgan Trading Loss

Law360, New York (May 21, 2012, 2:03 PM EDT) -- The U.S. Commodity Futures Trading Commission has opened an investigation into JPMorgan Chase & Co.'s stunning $2 billion trading loss, an agency spokesman confirmed Monday, in a move that exposes the bank to further legal and regulatory scrutiny.

The probe will focus on a massive derivative trade that caused JPMorgan’s chief investment office to lose at least $2 billion, according to CFTC spokesman Steven Adamske. He declined to share additional information regarding the investigation.

The U.S. Securities and Exchange Commission and the FBI have already opened...
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