Jamie Dimon was talking about the business climate, not the polar vortex that gripped much of the U.S. this winter, when he mentioned “weather” in a discussion about a slump in trading revenue at JPMorgan Chase & Co.
The U.S. government took a step toward legitimizing the marijuana industry, allowing U.S. banks to offer accounts and other services to businesses in states where medical or recreational pot sales are legal.
JPMorgan Chase & Co.’s $13 billion fraud settlement with the U.S. government should be blocked until a court is able to review it, a Wall Street watchdog group founded by an Atlanta hedge fund manager said.
Financial industry executives are almost as concerned about the growing demands of regulatory compliance as they are with market volatility, according to today’s survey of 400 financial companies by SunGard Financial Systems LLC and Longitude Research.
Blythe Masters, JPMorgan Chase & Co.’s commodities head, withdrew from an advisory committee of the U.S. Commodity Futures Trading Commission a day after her appointment was disclosed, according to two people with direct knowledge of the decision.
JPMorgan Chase & Co.’s Bear Stearns unit won dismissal of a suit brought by hedge fund SRM Global claiming it had lost more than $200 million tied to its reliance on Bear Stearns’ misleading representations about the value of mortgage-backed and asset-backed securities.