SEC

JPMorgan hires former SEC enforcer over loss

Reuters News
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Posted: Jun 08, 2012 10:07 AM

(Reuters) - JPMorgan Chase & Co has hired former U.S. Securities and Exchange Commission enforcement chief William McLucas to assist the firm in probes of its loss of at least $2 billion on credit derivatives trades, according to bank spokesman Joseph Evangelisti.

McLucas, who was not immediately available for comment, was director of the SEC's Division of Enforcement for eight years. McLucas is chairman of the securities practice at law firm WilmerHale in Washington.

The bank is being investigated over the loss by the Securities and Exchange Commission, the Commodity Futures Trading Commission and the Federal Bureau of Investigation, officials of the agencies have said.

(Reporting by David Henry in New York; Editing by Gerald E. McCormick.)