May 11 (Bloomberg) -- U.S. lawmakers and interest groups favoring tighter restrictions on proprietary trading said JPMorgan Chase & Co.’s $2 billion loss on synthetic credit securities bolsters their case.
Senator Carl Levin, chairman of the Permanent Subcommittee on Investigations and co-author of the so-called Volcker rule, said the New York-based bank’s disclosure is a “stark reminder” to regulators drafting the proprietary-trading ban required by the Dodd-Frank Act.
via Washington Post
No comments:
Post a Comment