Dispute 		cmdty fx repo real
estate 		short
term 		loans
equity fx  ir  cmdty note

Incident

Incident
JPMorgan Mismarking
Incident Summary
SEC Charged Two European Traders with overvaluing investments to hide losses that grew to $6.2 billion. JP Morgan pays $920 million in fines to regulators.
Alleged Loses:
$6,200,000,000
Date
Aug 14, 2013
Post Madoff
Yes

Red Flags

Red Flag Summary
Defendants Martin-Artajo and Grout falsified, or caused others to falsify the valuation records.
Ten12 Red Flags
Other Red Flags
Ten12 Security prices
Investment Advisor Analysis
Fund Vendor Analysis
Non Registered Funds

Fund(s)/Portfolio(s):

JPMorgan Synthetic Credit Portfolio

Vendors

Accountant

Custodian Bank

Fund Administrator

Pricing Vendor

Prime Broker(s)

-

-

-

-

-

Entity

Fined Entity

Fines & Penalties

- JPMorgan Chase & Co

- $920,000,000

People

Sec

SEC. v. Javier Martin-Artajo and Julien Grout Complaint

SEC Voluntarily Dismisses All Claims Against Former J.P. Morgan Chase & Co. Traders

Statement on SEC Enforcement Action Against JPMorgan

JPMorgan Chase Agrees to Pay $200 Million and Admits Wrongdoing to Settle SEC Charges

Securities and Exchange Commission v. Javier Martin-Artajo and Julien G. Grout, Civil Action No. 13-CV-5677 (S.D.N.Y.)

U.S. v. Javier Martin-Artajo Complaint

U.S. v. Julien Grout Complaint

News

BankThink Auditors Are Asleep at the Switch on Banks' Risk Controls

The London Whale resurfaces: Bruno Iksil speaks out

London Whale scandal to cost JP Morgan $920m in penalties

London Whale' charges dropped against former JP Morgan traders

Hunting the Great White Whale: SEC Eyes JPMorgan's Risky, Costly Trading

JPMorgan admits it broke securities laws in ‘London Whale’ case

SEC dismisses all charges against former J.P. Morgan Chase "Whale" Traders

As One JPMorgan Trader Sold Risky Contracts, Another One Bought Them

Former JPMorgan Chase Traders Charged Over 'White Whale' Bets

JPMorgan Chase To Pay Huge Fine In London Whale Settlement

JP Morgan’s London Whale loss comes down to one question: Was it meant to be a hedge, or not?

JPMorgan to pay $150 million in 'London Whale' U.S. class action

JPM's Whale troubles may not end with civil settlement

JPMorgan’s Admission: A symbolic victory for the SEC, of limited use in private lawsuits

2012 JPMorgan Chase trading loss

JPMorgan Chase London Whale A: Risky Business