Jpmorgan Said To Settle Cftc London Whale Trading Probe

The Securities and Exchange Commission has said its inquiry remains open while the U.S. Justice Department runs a parallel probe. Iksil, who prosecutors have said is cooperating with their case, hasnt been charged. Banks Admissions In April last year, Chief Executive Officer Jamie Dimon , 57, initially dismissed media reports that the derivatives bets were distorting markets, calling the attention a tempest in a teapot. The bank disclosed mounting losses a month later. In an SEC settlement last month the bank admitted to oversight lapses and acknowledged it violated federal securities laws. The firms handling of the trades also has been faulted by Senate investigators, the U.S. Office of the Comptroller of the Currency, Federal Reserve and U.K. Financial Conduct Authority. The CFTCs civil settlement stipulates JPMorgan admit to wrongdoing on one day last year, one of the people said. While the CFTC may also reference other trades in its claims, JPMorgan wouldnt admit or deny misconduct in those instances, the person said. The Wall Street Journal reported the settlement amount yesterday, and the New York Times reported the proposed admission.

London Business School Signs Deal with China’s Sovereign Wealth Fund

Wendy Alexander, Associate Dean, Degree Programmes and Career Services, London Business School, said: “To have a financial institution of such critical importance to the global economy as SAFE sponsoring its highly talented employees through our programmes is a fantastic endorsement for London Business School. We believe that our blend of rigorous curricula, outstanding and diverse peer groups, and central London learning environment equips our graduates with the skills to become effective future global leaders. We look forward to growing our relationship with SAFE and playing a role in the development of its workforce.” The State Administration of Foreign Exchange of the People’s Republic of China (SAFE) is an administrative agency tasked with drafting rules and regulations governing foreign exchange market activities, and managing the state foreign exchange reserves. A number of the portfolio managers at SAFE’s Reserve Management Department are already alumni of London Business School’s Masters in Finance Programme. Ms. Yuhong ZHONG, Deputy Executive Director (Human Resources) at Investment Center (Reserve Management Dept.) of State Administration of Foreign Exchange (SAFE), said: “It is not surprising to know that London Business School’s Masters in Finance has been rated number one in the world by Financial Times for the third consecutive year. “Partnering with this global leading business school in all aspects will strengthen our people strategy to continue investing in staff training and development. We are confident that this partnership will also help enhance our global competitiveness.” *2013 Financial Times post experience Masters in Finance( http://rankings.ft.com/businessschoolrankings/masters-in-finance-post-experience-2013 ) ranking Notes to editors About London Business School London Business School’s purpose is to deliver insights and leaders that have impact. The School was ranked number one internationally for the full-time MBA programme*. In research, the School is ranked top ten and holds the highest average research score of any UK academic institution**. The School’s faculty, from over 30 countries, is grouped into seven subject areas — Accounting; Economics; Finance; Management Science and Operations; Marketing; Organisational Behaviour; and Strategy and Entrepreneurship. Studying at the School provides access to an unmatched diversity of thought. With a presence in four international cities — London, New York, Hong Kong and Dubai — the School is well positioned to equip students from more than 100 countries with the capabilities needed to operate in today’s business environment. Students further benefit from our 34,000 alumni from more than 130 countries who provide a wealth of knowledge, business experience and worldwide networking opportunities. The School awards over 1,000 degrees every year, across MBA, Executive MBA, Masters in Finance, Sloan Fellow and PhD programmes and has most recently added Masters in Management to its portfolio.