Jpmorgan Fined $920 Million In ‘london Whale’ Trading Loss

jamie dimon

I also order Belgian slippers from a small Spanish shoemaker who agrees to do custom styles for us in tweed, denim and cotton, a cross between Toms and leather loafers that will be great with suits for fall, and velvet blazers for the holidays. Cult following Japanese blogger Guerre has organized a shoot for GQ Japan with a group of us on the roof of the Padiglione Centrale. As I walk back to Pitti afterwards, every guy is trying to out-peacock the next. Im wearing white pants, a cream linen hopsack jacket and a nautical blue and white striped shirt to keep cool in the heat. Theres no need to look like a big dandy. Dinner is at Buca Lapi with Scandinavian fashion friends, a group that has grown a few young fashion photographers, bloggers and startup retailers, many under 25, who have flown out on their own dime just to be a part of the scene. Their energy is contagious and it reminds me why I love this business. Friday, June 21 Hung over, big time. I don my Toronto Blue Jays hat and tailored Dad jeans (in that shade your father used to wear when washing his car). Its the clothing equivalent of comfort food, yet more people are stopping me to take photos of my outfit than any other day. After lunch a couple of Dutch guys and I rent scooters. It feels really cool to ride around in Italy on a Friday afternoon. We drive to a workshop outside of Florence to check out Caccioppolis new fabrics but were more inspired by the clothes the guys in the street are wearing. Along the way we stop for a swim fashion is not that serious!

London Fashion Week Closes After Flurry of Shows

Treasury and U.K. Finance Ministry and will not increase or fund regulators’ budgets. The SEC does have the ability to use some of the fine money to compensate investors who can prove they were hurt by JPMorgan’s actions. But no such trading losses have yet been established. The money-losing trade was made with JPMorgan funds, not customers’ assets. None of the bank’s customers were hurt by the trading. Related: London Whale fine excessive and political The charges JP Morgan settled were civil, not criminal, and none of its current officers were penalized by the authorities. Cornelius Hurley, director of Boston University’s Center for Finance, Law & Policy and a former counsel to the Fed, said the large civil fines are the only check on the so-called “too big to fail” banks that rarely face any kind of criminal enforcement. “Bank regulators are under pressure to fill the gap left by prosecutors who are giving large banks a pass for egregious behavior,” he said. JPMorgan was forced to take the unusual step of admitting it broke federal securities law, in a sentence buried deep in an annex to the SEC order. Typically banks and other companies that reach a settlement with the SEC agree to pay a fine without either admitting or denying any wrongdoing. That is a legal dodge that has sparked criticism of the SEC in the past.

Preen chose to feature a bright neon pink, which appeared on plastic and rubberized dresses and raincoats. Volume was big, too, with many trapeze shapes and floor-sweeping gowns and wide-leg trousers seen at shows including Mulberry and Erdem. This being London, many designers were impossible to fit into any talk of trends. Vivienne Westwood produced a collection featuring her signature draped dresses and tailored separates, though those designs were sidelined by a modern dance performance with an environmentalist message by model Lily Cole. Christopher Kane, known for his quirky and imaginative designs, showed futuristic dresses that looked like they could be Star Trek costumes and floral prints that looked like biology text book illustrations. Bay Garnett, a stylist for British Vogue, said that Kane and Meadham Kirchhoff, which showed Tuesday, stood out as two of her highlights of the week because they were so creative.”It’s so imaginative. It’s the kind of eclecticism, the kind of spirit of Britishness, I think,” she said. Asked which looks she expected to see copied in shops in spring, she said: “I haven’t gotten that far yet. I’m just looking around and taking in the ideas.” Many in attendance must be thinking the same, as they pack up and head for two more weeks of preview shows in Milan and Paris. ADIDAS BY STELLA MCCARTNEY McCartney ditched the catwalk and took her audience to the gym instead for her new season sportswear collection for Adidas. The British designer had her models wear cropped sweatshirts, stretch bodysuits and daisy print shorts in bright yellow, aqua and tropical lime as they danced, cycled and performed aerial yoga. A team of four synchronized swimmers sporting black bathing suits with side cutouts even put on a performance in a small swimming tank.