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JPMorgan faces U.S. action on anti money-laundering practices - WSJ
Nov 16th 2012, 06:36

(Reuters) - U.S. regulators are expected to serve a formal notice to JPMorgan Chase & Co accusing the nation's biggest bank of having weaknesses in its anti money-laundering systems, the Wall Street Journal reported, citing people close to the situation. Office of the Comptroller of the Currency's (OCC's) cease-and-desist order to JPMorgan is part of a broader crackdown on the nation's largest banks, the people told the paper. The OCC is expected to require JPMorgan to beef up its procedures and examine past transactions, the Journal said. (http://link.reuters.com/sys93t) Investigators and regulators are examining risk controls surrounding a multi-billion dollar trading loss within the...

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