SEC's Red Line On Admissions Unclear After JPMorgan Deal

Law360, New York (September 19, 2013, 7:09 PM EDT) -- While the U.S. Securities and Exchange Commission forced JPMorgan Chase & Co. to admit fault Thursday over its $6 billion "London Whale" trading loss, the agency has provided little guidance on when it plans to demand admissions in other settlements, leaving defense counsel in the dark.

JPMorgan struck a $920 million settlement with U.S. and U.K. regulators stemming from the derivatives trading debacle in early 2012. In a rare move, the bank admitted it had failed to ensure that traders in London had correctly marked the...
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