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JP Morgan fined £572m

Investment bank JP Morgan has been fined £572 million ($920 million) by UK and US regulators over the 'London Whale' trading scandal - the nickname of a bond market trader who was reported to be making trades worth up to $10 trillion in April 2012.

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JP Morgan fine second biggest issued by UK authority

The £137.6 million fine given to JP Morgan is the second largest ever issued by a UK regulatory authority.

The biggest fine happened in December last year when UBS were given a £160 million penalty by the Financial Services Authority (FSA) over libor failings.

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