CFTC opens probe into JPMorgan trading loss: NYT

[MindMover]

Source: Reuters


(Reuters) - The Commodity Futures Trading Commission (CFTC) has opened an enforcement case to examine possible wrongdoing at JPMorgan Chase & Co in connection with the bank's multi-billion-dollar trading loss, The New York Times said late on Friday, citing people briefed on the matter.

The CFTC would join the FBI and the U.S. Securities and Exchange Commission among federal agencies examining the loss, which the largest U.S. bank said last week was at least $2 billion.

Members of the CFTC also voted on Friday to publicly disclose the existence of its investigation soon, a rare step it reserves for the most serious cases, the newspaper said.

The CFTC has disclosed an investigation into last October's collapse of MF Global Holdings Ltd, a futures and commodities brokerage from where large sums of customer money remain missing.


Read more: http://www.reuters.com/article/2012/05/19/us-jpmorgan-cftc-idUSBRE84I01B20120519

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1. good! No one should invest in this stock market without some accountability

from Wall St. And $2 billion is a lot to "lose."