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Now that shareholders have agreed to let Jamie Dimon keep both his jobs at JPMorgan Chase, the chairman and chief executive must resolve several pressing issues. Among them: succession, board composition and mounting regulatory scrutiny.
May 21 -
Regulators may fault JPMorgan Chase (JPM) for failing to conduct sufficient due diligence into accounts held by the investment firm of disgraced money manager Bernard Madoff, Reuters reported Monday.
April 15 -
JPMorgan Chase reached a $13 billion deal with the U.S. Justice Department that ends probes into the bank's sale of mortgage bonds, the largest amount paid by a financial firm in a settlement with the government.
November 19
JPMorgan Chase (JPM) will pay $2 billion in penalties to settle charges that it ignored warning signs of the Bernard Madoff Ponzi scheme, according to multiple news reports.
The settlements with federal regulators and prosecutors could be announced as early as Tuesday, according to a Sunday report in the
JPMorgan Chase is also expected to reach a deferred-prosecution agreement with the United States Attorneys Office in the Southern District of New York as part of the settlements, according to the Journal and the
The U.S. Attorney's Office declined to comment. JPMorgan Chase also declined to comment.
JPMorgan Chase served as Madoff's main bank for over 20 years. Federal prosecutors are expected to cite the company for violating the Bank Secrecy Act, which requires financial institutions to closely monitor and report suspicious activity, according to the Times.
JPMorgan Chase's fourth-quarter earnings will be released on Jan. 14. The company may have been motivated to finalize Madoff settlements before the earnings go public, according to the Journal.
The company reached a