Donna Boehme – Corporate Counsel – September 20, 2013
JPMorgan Chase & Co. has once again made big news on the compliance front, announcing its plans for a whopping $4 billion in additional spend, including hiring 5,000 extra employees, to fix ongoing compliance and risk gaps.
That would presumably include everything from the nowinfamous “London Whale” debacle (just settled for $920 million in civil fines and a rare admission of guilt) to LIBOR rate rigging and manipulation of energy markets, to Chinabased practices of hiring dubiously qualified “sons and daughters” of government officials. . . .