September 20, 2013 - JPMorgan Chase has entered into settlements with regulators over the Chief Investment Office trading incident and the aftermath that ensued.

The Securities and Exchange Commission, Financial Conduct Authority, Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency will all receive payments totalling approximately $920 million.

These settlements now resolve the issue and represents a significant victory for regulators, with the institution admitting its handling of the so-called "London Whale" trading losses, which violated securities law, was poor.

A selection of traders at JP Morgan's London office incurred huge losses in derivatives trades at the beginning of 2012 and two former employees face criminal charges in the US relating to the case.

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase, said: "We have accepted responsibility and acknowledged our mistakes from the start and we have learned from them and worked to fix them."