The U.S. Department of Justice and the Federal Bureau of Investigation in New York have begun a criminal probe of JPMorgan Chase & Co.'s $2 billion trading loss, a person familiar with the matter said.
The U.S. is looking into what if any criminal wrongdoing occurred in relation to the losses the bank reported last week, said the person, who declined to be identified because the matter isn't public. The inquiry is in its most preliminary stage, the person said.
The U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission, which regulates derivatives trading, are also examining New York-based JPMorgan's trading activities, according to people familiar with those probes.
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