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JPMorgan says more trading pain to come

Trading Desk

JPMorgan Chase, the first big U.S. bank to report earnings after the third-quarter’s market tumult, missed analysts’ estimates and cautioned that trading is off to a tepid start this quarter.

UBS to pay $19.5m to settle SEC charges

Sec Building

The Securities and Exchange Commission has announced that UBS AG has agreed to pay $19.5m to settle charges that it made false or misleading statements and omissions in offering materials provided to U.S. investors in structured notes linked to a proprietary foreign exchange trading strategy.