The lead regulator overseeing the unit of JPMorgan Chase & Co. that racked up multibillion-dollar trading losses is probing whether the bank provided adequate information about its trading activities in the weeks and months leading up to the disclosure of the losses, the Wall Street Journal reported today. Examiners with the Office of the Comptroller of the Currency, which regulates national banks and the JPMorgan group where the losses occurred, met with bank managers in April to review the position, according to prepared testimony for a Senate Banking Committee hearing today. In the prepared testimony, Comptroller of the Currency Thomas Curry says that the losing trades established in recent months were a part of trading activity that began about five years ago.
To review the prepared testimony for today's Senate Banking Committee hearing scheduled for 10 a.m. ET, please click the link below.
http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Hearing&…