JPMorgan’s London Whale Saga Ends Quietly as Fed Closes Order

June 6, 2019, 9:48 PM

JPMorgan Chase & Co. has formally put to rest a particularly embarrassing chapter in its history: the so-called London Whale trading debacle that triggered a loss of at least $6.2 billion for the Wall Street bank.

With the Federal Reserve terminating a 2013 order against JPMorgan, regulators as of June 6 consider the case closed. The Fed said it’s dropping the matter “on evidence of substantial improvements by the firm,” the central bank said in a statement.

The Fed action had demanded that New York-based JPMorgan get a better handle on internal systems that allowed its Chief Investment Office ...

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