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London Whale Scandal: JP Morgan

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London Whale Scandal: JP Morgan
Six different regulatory agencies conducted extensive independent investigations into the JP Morgan London Whale scandal. On September 19, 2013, JP Morgan received a total of $921 million of fines and penalties administered by the OCC, The UK Financial Conduct Authority (FCA), The Federal Reserve, and the Securities Exchange Commission (SEC). The OCC handed JP Morgan a $300 million fine, followed by the FCA’s fine of 137.6 million pounds ($221 million), and finally the Federal Reserve and the SEC both executed a penalty of $200 million each (Kopecki, 2013).
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