JPMorgan

Swiss watchdogs discovered shortcomings at JPMorgan over 1MDB scandal

Swiss financial watchdog FINMA said on Thursday the Swiss subsidiary of U.S. bank JPMorgan had committed serious anti-money laundering breaches in relation to Malaysian sovereign wealth fund 1MDB, Reuters reported.

The case adds to the political storm that has raged for more than two years over the scandal at 1Malaysia Development Berhad (1MDB), the focus of money-laundering investigations in at least six countries including Singapore, Switzerland and the United States.

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JPMorgan changed idea: ready to offer Bitcoin futures

Bitcoin has had an exciting year. It has split in two, become more accepted as a form of payment, and soared in value, now resting above $8,000. There’s also that small matter of the Chicago Mercantile Exchange (CME), the world’s leading derivatives marketplace, announcing plans to introduce bitcoin futures in 2017 – an announcement that some credit with pushing the cryptocurrency above the $8,000 threshold.

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Too Big to fail? JP Morgan heads the table in 2017

Banks and financial institutions of particularly intrinsic importance to the global financial ecosystem are sometimes blithely referred to as "too big to fail".
A more sober term is ‘global systemically important banks’, or G-SIBs for short. In the aftermath of the financial crisis, at the 2009 G20 summit, an international body called the Financial Stability Board (FSB) was set up, its aim being to monitor the global financial system and make recommendations, when it deemed appropriate. The 2017 list was published on Tuesday and it makes for interesting reading.

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CEO JP Morgan is convinced: Bitcoin is a Fraud

JPMorgan CEO Jamie Dimon says bitcoin is worse than the most infamous asset bubble in history. Speaking at a banking conference in New York, Dimon said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. “For two reasons: it’s against our rules, and they’re stupid. And both are dangerous.”

He added: “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.

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JPMorgan trader sent a $100m order by mobile

JP Morgan’s corporate investment banking division CEO Daniel Pinto announced Tuesday that one of the bank’s clients used their cell phone to make a $100 million trade. One of the most respected senior executives in the industry highlights the changes that are coming to institutional FX trading at a time when his company invested $9.5 billion in new technology. Pinto’s announcement Tuesday may be proof the investments were worth the risk.

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Liquid alternative to build stronger portfolios (By J.P. Morgan)

The macroeconomic headwinds and elevated volatility currently serving as a cornerstone for much of the prevailing investor uncertainty show little sign of receding. The Brexit vote and the ensuing political and economic uncertainty only amplify the uncertainty.

With traditional assets failing in their capital preservation and portfolio stability purposes, investors need to look for something else to help offset the risk generated by equities. Demand to generate returns which are not beholden to the direction of asset markets has become more pronounced.

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