SEC

The JPMorgan Chase employee, dubbed the ‘London Whale', who was responsible for an estimated $2bn loss has left the bank.

JPMorgan Chase & Co has sold off around 70% of the ‘London Whale' position which caused $2bn of trading losses for the investment bank, according to reports.

JP Morgan Chase has sold an estimated $25bn of profitable securities in an effort to boost earnings and recoup some of the $2bn it suffered in trading losses earlier this month.

Britons rank second in a list of non-US nationals most keen to tip America's regulators off about suspected financial crime, according to the first annual report on the Securities & Exchange Commission's whistleblower programme.

The Securities and Exchange Commission (SEC) has approved rules making it harder for overseas firms to list in the US via mergers with shell companies - a move advocated by Fidelity's Anthony Bolton earlier this year.

Standard and Poor's (S&P) has received notice from the Securities and Exchange Commission (SEC) recommending a lawsuit be brought against it over a mortgage-backed security it rated in 2007.

A former Deloitte Tax partner and his wife have been charged with insider dealing by the SEC in the US as part of a joint investigation with the FSA.

The US Securities and Exchange Commission questioned Warren Buffett's Berkshire Hathaway in Q2 on why it was not writing down large losses on shares in Kraft and US Bancorp.

The manager of an AIM-listed China trust - which is held by Fidelity's Anthony Bolton, Baillie Gifford and Henderson - is under investigation by the US regulator.

The SEC has charged two employees of Boston-based State Street with misleading investors over exposure to sub-prime debt.