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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
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04/01/201519:28:00Dividend Update - March 2015
04/01/201518:06:56HSBC Monitor Says Bank's Compliance Progress Too Slow -- Update
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04/01/201516:40:11Current Report Filing (8-k)
04/01/201516:29:00JPMorgan Chase Announces Adjustment to Warrant Exercise Price
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04/01/201514:01:21Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201513:37:54Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201513:35:41Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201513:32:13Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201513:26:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201513:15:49Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201512:22:05GoDaddy's Shares Jump Up To 34% In Market Debut--2nd Update
04/01/201511:53:10Obama Unveils New Penalties for Overseas Cyberattacks--Update
04/01/201511:21:57Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
04/01/201511:21:05Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

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