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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
09/29/201611:10:55Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201610:58:36Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201610:52:04Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201610:50:00American Eagle Names New Finance Chief
09/29/201610:43:39Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201610:31:00Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201610:30:04Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201609:56:00Macomb Innovation Fund Announces $375,000 in Awards to Six Detroit-area...
09/29/201606:03:04Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:03:03Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:02:31Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:02:31Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:02:30Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:02:30Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:02:29Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/29/201606:02:29Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/28/201617:16:31Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/28/201616:17:28Initial Statement of Beneficial Ownership (3)
09/28/201616:11:45Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
09/28/201616:10:22Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

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