SEC Chairman Mary Shapiro says regulators are “focused” on JP Morgan after $2B trading loss

The head of the Securities and Exchange Commission says the agency is focused on a surprise $2 billion trading loss by JPMorgan Chase. SEC Chairman Mary Schapiro told reporters “I think it’s safe to say that all the regulators are focused on this.” She declined to make any further comment related to JPMorgan. The trading loss was an embarrassment for JPMorgan, which came through the 2008 financial crisis in much better health than its peers. It kept clear of risky investments that hurt many other banks. Read Washington Post report here.