This morning, JP Morgan (NYSE:JPM) announced that it has reached a settlement with US and British regulators over the $6 billion trading loss attributed to the "London Whale". In the British settlement, the company would pay $200 million to the British Securities and Trade Commission and another $220 million to the UK Financial Conduct Authority. As part of this settlement, the company would admit to wrongdoing. On the US side, the Federal Reserve Board fined the company $200 million and the Comptroller of the Currency imposed a $300 million fine. In total, JP Morgan will pay $920 million. On the news, shares of JPM were modestly lower with the markets.
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