Daily Archives: September 20, 2013, 1:43 pm

Canada Moves to Plan B for a National Securities Regulator: A “Cooperative” Agency – Compliance Week

Its original plan for a national securities regulator was rejected by the Supreme Court of Canada, so the Canadian government has decided to take a new approach to the issue. Yesterday Canadian officials announced that the government will join with the provinces of British Columbia and Ontario to form a “cooperative” agency, and that all of Canada’s provinces and territories…

Read More

Washington’s Revolving Door Catches SEC – WSJ Washington Wire

Only three of the agency’s five commissioners voted on [JPMorgan] settlement, which included an acknowledgement of wrongdoing by the bank. SEC Chairman Mary Jo White and Republican Commissioner Daniel Gallagher were recused from the case given legal work their previous employers – Debevoise & Plimpton LLC and Wilmer Cutler Pickering Hale and Dorr LLP — had done for J.P. Morgan.…

Read More

In JPMorgan Settlement, Testing the Lines of Admitting Wrongdoing — DealBook

The settlements announced on Thursday by JPMorgan Chase over the “London Whale” trading included a much-anticipated admission of wrongdoing in its resolution with the Securities and Exchange Commission. But the bank has been unwilling to make such an admission in dealing with the Commodity Futures Trading Commission, which has notified it of a planned enforcement action for its trading. If…

Read More

Don’t get too excited about JPMorgan’s admissions to the SEC — On the Case

But if you look closely at what JPMorgan actually admitted, you’ll see that the SEC settlement won’t be of much use to shareholders in the class action. Don’t misunderstand me: JPMorgan is extremely unlikely to escape from the private shareholder case without paying a lot of money. That’s not because of the SEC settlement, however. As I’ll explain, the bank’s…

Read More