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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
12/09/201606:02:30Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/09/201606:01:55Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201617:26:43Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201617:16:38Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201616:49:04Current Report Filing (8-k)
12/08/201615:56:04Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201615:55:38Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201612:18:00U.S. Service Sector Revenue Growth Accelerates
12/08/201611:51:00MARKET SNAPSHOT: Dow, S&P 500 Hit Intraday All-time Highs As...
12/08/201611:40:00MARKET SNAPSHOT: Dow, S&P 500 Hit Intraday All-time Highs As...
12/08/201611:31:15Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201611:11:42Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/08/201610:49:00MARKET SNAPSHOT: Nasdaq Touches Intraday Record, But Stocks Struggle...
12/08/201610:26:00MARKET SNAPSHOT: Nasdaq Touches Intraday Record, But Stocks Struggle...
12/08/201610:23:00MARKET SNAPSHOT: Nasdaq Touches Intraday Record, But Stocks Struggle...
12/08/201609:30:00Banks to Donald Trump: Don't Kill Dodd-Frank
12/08/201609:02:00With LevelUp, Chase Pay enables customers to order ahead and...
12/08/201606:06:02Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)
12/07/201619:20:00Bank of New York Lost Ability to Process Payments for 19 Hours
12/07/201617:28:24Prospectus Filed Pursuant to Rule 424(b)(2) (424b2)

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