EFTA01098751.pdf

Daily Business Review: Ex JPMorgan exec says Dimon withheld data from U S 3/18/13 3:26 PM • Comprehensive • Written by leading lawyers • Insightful analysis practicing attorneys can trust DAILY BUSINESS ii-Dade REVIEVIli Browarci ,c9”, ALM Properties, Inc. Page printed from: Daily Business Review Back to Article Ex-JPMorgan exec says Dimon withheld data from U.S. JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses The Associated Press 2013-03-18 12:00:00 AM JPMorgan Chase CEO Jamie Dimon held back showing federal regulators reports in May that revealed the bank had accumulated billions of dollars in trading losses, according to congressional testimony Friday from the firm's former thief financial officer. Douglas Braunstein, who is now a vice chairman at the bank, told the Senate Permanent Subcommittee on Investigations that Dimon did not submit the daily reports for two weeks because he was concerned about "confidentiality." Dimon ultimately acknowledged later that month that the firm had lost $2 billion on risky trades out of its London office. The losses have since been revised to more than 56 billion. DAILY BUSINESS REVIEW PRESENTS Page 1 of 2 EFTA01098751 Daily Business Review. Ex j1Worgan exec says Dimon withheld data from U S 3:18'13 3:26 PM Copyright 2013. ALM Media Properties. LLC. All rights reserved. Page 2 of 2 EFTA01098752