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The Justice Department will be looking into JP Morgan’s $2 billion trading loss, the the Wall Street Journal is reporting. It is not yet clear what legal violations the DOJ will be investigating.
The Securities and Exchange Commission, the Federal Reserve and the Commodity Futures Trading Commission are also already looking into the losing trade since it was disclosed last week.
NBC New York is also reporting that the FBI in New York has opened an inquiry into JP Morgan, but that it is not criminal in nature.
While the SEC and the CFTC can bring civil charges against companies and individuals, the DOJ is able to press criminal charges.
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