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70% of Investment Bank Staff Admit City is Unprepared for the Olympics

City of London at Night

A recent survey conducted at TradeTech London by IPC Systems, Inc, a leading provider of voice and electronic trading communications solutions to the world’s top financial services firms, has revealed that nearly 70% of investment bank staff think that the City is lagging behind in preparation for the Games with nearly half of respondents unsure whether their company has a Business Continuity Plan (BCP) in place.

Jamie Dimon Blames JPMorgan Losses On Top Executives

Super Dimon

JP Morgan boss Jamie Dimon blamed the bank's $2bn-plus trading losses on 'poorly conceived' strategies of senior executives who failed to keep him informed, as he escaped largely unscathed Wednesday from a Senate banking committee hearing set up to investigate the affair.




BNY Mellon fined £126m

The Financial Conduct Authority (FCA) has fined The Bank of New York Mellon London Branch (BNYMLB) and The Bank of New York Mellon International Limited (BNYMIL) (together ‘the Firms’) £126m for failing to comply with the FCA Client Assets Sourcebook (Custody Rules, or CASS), which applies to safe custody assets and to client money.

Pole Dancing Robot

JPMorgan warning

JPMorgan is concerned about loans that finance some leveraged buyouts, and is scaling back from what is a booming area, even as its overall loan portfolio grows, a top executive said in an interview.