UPDATE: SEC Opens Investigation Into JPMorgan's $2 Billion Loss

Mary Schapiro of the SEC

Photo: AP Images

UPDATE: NYTimes.com Dealbook is now reporting the SEC has officially opened an investigation into possible violations related to the $2 billion losses at its chief investment office.

Earlier: Marketwatch’s Ronald Orol reports SEC chief Mary Schapiro has said the agency is “obviously very focused” on the $2 billion losses incurred by JPMorgan’s chief investment office.

Schapiro spoke to reporters after speaking at an Investment Company Institute mutual fund conference in Washington.

The AP quoted her as saying “I think it’s safe to say that all the regulators are focused on this.”

Orol said she declined to comment on whether the trade gives an impetus to regulators to adopt the Volcker Rule, which would limit speculative trading.

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