Jp Morgan Chase Settles The London Whale

899 words - 4 pages

IRAC Brief: JP Morgan Chase Settles the London Whale
This is a case study analysis of a current legal case regarding the governance principles of regulatory compliance and the methods used to manage risk arising. The briefing of this case will utilize the IRAC method of case analysis to give a breakdown on the case of JP Morgan Chase on regulatory violations and risk management. The IRAC method will address I - Issue, R - Rule, A - Analysis, and C - Conclusion which will provide a researched assessment of the trading loss violations on this case. Please read and review this analysis of the case utilizing IRAC method of case analysis.
JP Morgan Chase permitted traders in its London ...view middle of the document...

1). The unsafe business practices and lack of executive oversight led to a $6 billion loss. To make matters worse, “JPMorgan has previously said it has recordings, e-mails and other documents that suggest its traders may have been hiding the losses as they ballooned” (Isidore & O’Toole, 2013, para. 16). The rule states that JP Morgan must monitor effectively and manage trading losses through effective internal controls and executive oversight. In the event that losses do occur, JP Morgan is responsible for reporting these findings to its shareholders.

Regulations regarding trade losses have been put into place in accordance to the Securities and Exchange Commission and the Commodity Futures Trading Commission. The laws enforced investigate and execute its law enforcement function of securities law violations and wrongful trade exchanges. In the JPMorgan Chase settlement the bank admitted fault in misconduct as it prides itself on ability to manage risk. JPMorgan Chase is impacted in the sense of the regulatory agencies monitoring every practice and mortgage loan being made. Furthermore, the banks reputation is jeopardized, along with fines, which were to be paid among various commissions and compliance regulatory agents.
The Bank admitted their wrongful doing in misleading investors about risk and trade, which presented possible private litigations uprising. With this noted the governance principles of regulatory compliance require that full compliance of national laws be in adhered to and that the soundness of principles as well as other standards for financial institutions. The undergoing of annual external audits within the end of a fiscal year and the audit relationship should be reexamined frequently in further consideration of changing the auditors every three to five years (" | How Investigations Work", 2013, p.1). However, JPMorgan Chase as a result will...

Other Essays Like Jp Morgan Chase Settles the London Whale

Web or Mobile Application Essay

804 words - 4 pages Web or Mobile Application Paper Connie Santos CIS319 June 17, 2013 Robert Juszynski Web or Mobile Application Paper JP Morgan Chase Mobile Bank application is one of the most important applications I have in my iPhone. Chase has created a new way of banking with their application. It is user friendly, it offers amazing capabilities, it is a time and money saver, and it has room for improvement. Chase has brought banking into our hands

Jpmorgan Chase Essay

1483 words - 6 pages . * Exception is bouncers or security guards b/c foreseeable that bouncers will use force within their scope of employment. The only way for JP Morgan Chase to report $5 billion in profits for the second quarter was to use accounting maneuvers that gave the bank such rosy profits as to propel its stock higher. Most incredibly to me the bank arbitrarily reduced its loan loss reserves by the quite formidable figure of $2.1 billion. If it had

Cover Letter

589 words - 3 pages To, Mr. Menon 
London Ref: Application for Financial Analyst Summer Internship Dear Mr. Menon, I am a Masters student at University of Sussex pursuing a course in International Management. I am keen to work for JP Morgan, as the company has an illustrious history and is a market leader in financial institutions globally, to be able to work for such a company would be an opportunity of a life time. The sales

Us World Bakn Problem Solution

3259 words - 14 pages world’s best places to work. USA World Bank could use best practices of Microsoft Corporation to improve employee. Recognizing and embracing skills of employees will put USA World Bank back at the forefront of its field. Another company whose practices can be adopted by USA World Bank is JP Morgan Chase. JP Morgan Chase & Co. is a leading global financial services company, primarily operating in the United States, but with presence in over 50

Bkb Internship Report

1691 words - 7 pages , Account No:20729204 3 USD JP Morgan Chase Bank National Association, New York, SWIFT/BIC:CHASUS33, Account No:001-1-041894 4 USD Mashreq Bank PSC, New York, SWIFT/BIC:MSHQUS33, Account No:70002574 5 USD Standard Chartered Bank, New York, SWIFT/BIC:SCBLUS33, Account No:3582-021618-001 6 USD Sonali Bank (UK) Ltd. 29-33 Osborn Street London E 6TD, London, SWIFT/BIC:BSONGB2L, Account No:02000 00424600 7 ACUD Arab Bangladesh Bank

Richard Trenton Chase

1811 words - 8 pages upon Richard Trenton Chase. Chase was also mentioned in the season one episode “Blood Hungry” of the show Criminal Minds. Many TV shows and movies today will get their ideas from dramatic events from the past and the crime that Richard Trenton Chase committed happens to be one of them. Works Cited Innes, Brian. Serial killers. London: Quercus, 2006. Print. "Richard Trenton Chase." — The Making of a Vampire — Crime Library on N.p., n.d. Web. 3Dec. 2013. . "RICHARD CHASE." Richard Chase. N.p., n.d. Web. 1 Dec. 2013. .

Moby Dick And Its Biblical Allusions

1287 words - 6 pages look at what we know about him. Moby Dick is a white, massive sperm whale, the largest and most feared by all beings in the sea. To Ahab, Moby Dick is the highest of all evil. To Starbuck, the chase after the whale is a fruitless cause. To Ishmael, the whale defines mystery, unexplainable, and holiness. Moby Dick's whiteness can be linked with holiness and godliness, such as Revelation 1:14, " His head and his hairs were white like wool, as white

"The Scarlet Letter" How Would The Characters See The White Whale? Mentiones Also Melville's Moby Dick

1064 words - 5 pages give chase, what would you do?'My method of attacking the question, how would the three main characters from Hawthorne's The Scarlet Letter see the whiteness of the whale?, is going to be a comparison to Melville's characters. The first comparison is between Hester Prynne and Ishmael. Hester Prynne is a brave lady who faces her sin, as seen in her ability to face severe ridicule on the scaffold. Ishmael is a brave young man who handles any conflict

Troubled Assets Relief Program

1185 words - 5 pages “too big to fail.” While the Troubled Assets Relief Program was created with great intentions, it failed miserably in the sense that it stole from taxpayers dollars. Some of the major recipients of TARP funds included JP Morgan Chase, Goldman Sachs, Bank of America, Citibank and in addition to some nonfinancial firms included General Motors and Chrysler. The Trouble Assets Relief Program affected beneficiaries such as corporate, individual

Stockanalysis: Bank of America

1420 words - 6 pages ) A review of BAC’s current financial ratios indicate relatively poor performance compared to top competitors and the industry average which is indicative in the relative stock prices (see below chart). Company | NYSE Symbol | ROE | ROA | Price | Bank of America Corp. | BAC | 1.76% | 0.20% | $15.56 | Wells Fargo & Company | WFC | 13.25% | 1.47% | $54.05 | JP Morgan & Chase Co. | JPM | 9.82% | 0.87% | $62.84 | Citigroup Inc

A brief essay on mergers

462 words - 2 pages it would be to start the business fresh, buying a company undervalued by its stock market price, taking advantage of loopholes in tax laws, investing in surplus funds and benefiting from a large company.In New York Times on April 11, 2004, there happens to be an article about a merger. The merger involves J.P. Morgan Chase and Bank One Corp., which are two bank corporations. J.P. Morgan Chase which is based in New York and Chicago-based Bank One

Related Papers

Jp Morgan Chase Essay

708 words - 3 pages JP Morgan Chase Katherine Phillips Timothy Kellum Business Law/LEG 100 March 8, 2013 JP Morgan Chase announced a trading loss from investment decisions made by three managers that was in the Chief Investment Office (CIO) of 5.8 billion. Those three men were let go soon after and could lose at least two years of income. The traders involved were also let go from the bank with no severance. The CEO Jamie Dimon commended the Ina

Jp Morgan Chase Essay

1586 words - 7 pages  Assignment 2: JP Morgan Chase Strayer University LEG 100 August 10, 2014 JP Morgan Chase is one of the oldest banking and financial institutions in the United States. The company itself is over 200 years old and they are a leading global financial service. Their assets are over $2.4 trillion and they are in over 60 different countries with 260,000 employees. (About, 2014) In the summer of 2012, JPMorgan

Mergers And Acqusition: Case Jp Morgan

5635 words - 23 pages FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION MNEs, JVs, and M&As Osho Aquila Adeolu Student number: 2302887 Mergers and Acquisitions, Case Study: JP Morgan Chase &Co Oulu Business School 2013 1 Table of Contents 1 INTRODUCTION ............................................................................................................................... 2 2 HISTORY AND THE M&A PROCESS

Organizing Functions Essay

1256 words - 6 pages use standardization from operating functions to dress codes, which signify the organization and its functions represents stability and trust (Bateman & Snell, 2009). JP Morgan Chase stands among the oldest financial institutions in the United States and its history began 200-plus years ago. Chase has assets of $2.3 trillion, operates, does business in more than 60 countries, has a staff of over 240,000, services brilliant corporations