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JP Morgan ordered to improve money-laundering controls

9:43 AM, Jan 15, 2013   |    comments
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(CNN) - U.S. regulators have given JP Morgan a slap on the wrist in the aftermath of a $6 billion loss revealed last year.

The bank has been ordered to improve its money-laundering controls and risk management techniques.

It's the first regulatory response linked to ill-advised bets on credit derivatives by a JP Morgan trader dubbed the "London Whale."

The bank consented to the orders without admitting or denying any wrongdoing, and it won't any face fines.

CNN

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