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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 [email protected]

Stock News for Jp Morgan Chase (JPM)
DateTimeHeadline
01/17/201713:31:40Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201716:32:57Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201716:20:17Current Report Filing (8-k)
01/13/201716:16:00JPMorgan Chase Declares Preferred Stock Dividend
01/13/201715:36:21Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201715:04:01Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201712:35:05Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201712:28:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201712:17:53Current Report Filing (8-k)
01/13/201711:02:34Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201710:14:00Stocks Edge Up As U.S. Banks Report Earnings
01/13/201710:03:00Stocks Edge Up As U.S. Banks Report Earnings
01/13/201709:58:18Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201709:37:00Hot Stocks to Watch in the U.S. and Canada
01/13/201709:03:00Stocks Edge Up As U.S. Banks Report Earnings
01/13/201708:01:00JPMorgan Chase Reports Fourth-Quarter and Full-Year 2016 Financial...
01/13/201707:56:23Current Report Filing (8-k)
01/13/201707:41:00Stocks Edge Up With Focus on Upcoming U.S. Bank Earnings -- 3rd...
01/13/201706:01:47Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
01/13/201703:02:00Ahead of the Tape: Lenders' Earnings: Why This Time Is Different...

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