JPMorgan said to suspend mortgage-bond trader

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JPMorgan put another of its mortgage-bond traders on leave, the latest in a string of suspensions amid regulatory scrutiny of the market, according to three people with knowledge of the move.

Bloomberg News reports that the employee was told not to come in during the past week, said the people, who asked not to be named because the decision wasn’t public. The trader has worked at JPMorgan since 2008 hasn’t been accused of any wrongdoing.

The mortgage-bond industry has come under scrutiny of regulators after former Jefferies trader Jesse Litvak was accused and later convicted of securities fraud for lying to clients about what he charged them.

JPMorgan has placed at least two other traders on leave, while Royal Bank of Scotland and Nomura Holdings also have suspended traders, people with knowledge of those moves said at the time. It’s unclear why the decisions were made or whether any of the actions have been related.

To access the complete Bloomberg News article hit the link below:

JPMorgan Said to Put Mortgage-Bond Trader on Leave Amid Scrutiny

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