JP Morgan Chase takes 'aggressive' stance on legal issues

JP Morgan Chase, the bank involved in various regulatory disputes, is 'aggressively tackling' legal and regulatory issues, according to chief executive Jamie Dimon.

Mr Dimon has written to staff to tell them that the bank has added about 3,000 staff to strengthen its system of controls. He says that the bank will be 'simplifying' its structure, according to the Financial Times. Staff have undergone about 750,000 hours of training in order to improve compliance work. The bank became embroiled in legal and regulatory action after it lost US$6 billion in the credit derivatives market.

JP Morgan Chase takes 'aggressive' stance on legal issues

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