JPMorgan Said to Weigh Chat-Room Ban Amid Regulatory Probes
This article is for subscribers only.
JPMorgan Chase & Co., the biggest U.S. bank by assets, is weighing whether to ban traders from using electronic chat rooms to communicate with peers at other firms as the forums draw scrutiny from global regulators, according to a person with knowledge of the matter.
JPMorgan’s deliberations, which should be complete by early 2014, focus on multi-dealer chat rooms for currencies and other asset classes, said the person, who requested anonymity because the talks are private. Royal Bank of Scotland Group Plc, Britain’s biggest publicly owned lender, and Zurich-based Credit Suisse Group AG, Switzerland’s second-largest bank, also are reviewing chat-room use, two other people said.