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Dimon Tells Senate Clawbacks of Executive Pay Are 'Likely'

By Alan Zibel WASHINGTON--The chief executive of J.P. Morgan Chase & Co. (JPM) told U.S. Senate lawmakers Wednesday it's "likely" that the company's board will seek to recoup pay from executives faulted in the bank's multi-billion dollar trading loss. Asked about whether there would be "clawbacks" of such pay, CEO James Dimon said the company's board is still reviewing the matter. But he added that "You can expect we will take proper corrective action. And I would say it's likely, though this is subject to the board, but it's likely there will be clawbacks." Mr. Dimon added that the bank has the ability to seek return of compensation "even for things like bad judgment." The bank, he said, can demand the return unvested stock and cash bonues. "it's pretty extensive, the ability to clawback," Mr. Dimon said. Write to Alan Zibel at alan.zibel@dowjones.com

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
08/25/201617:06:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/25/201616:54:00Chase Launches First End-to-End Digital Car-Buying Service for...
08/25/201614:41:55Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/25/201613:53:11Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/25/201610:37:12Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/25/201606:01:52Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201618:27:00Blockchain Firm R3 Files for a Patent as Fintech Race Heats Up...
08/24/201617:25:31Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201616:41:16Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201616:37:44Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201615:28:39Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201614:00:00J.P. Morgan Creates Executive Role to Lead Cloud Services
08/24/201613:53:00J.P. Morgan Creates Executive Role to Lead Cloud Services...
08/24/201613:18:00JPMorgan Chase Institute’s Local Consumer Commerce Index Shows a...
08/24/201612:40:00J.P. Morgan Creates Executive Role to Lead Cloud Services
08/24/201610:03:00Blockchain Firm R3 Files for a Patent as Fintech Race Heats Up--Update
08/24/201606:01:44Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201606:01:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/24/201606:01:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
08/23/201617:19:26Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

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