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Report: SEC investigates Treasury traders' exit from JPMorgan


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Report: SEC investigates Treasury traders' exit from JPMorgan

The SEC isnow also looking into two Treasury traders' exit from , the Financial Times reported April 3.

In January,J.P. Morgan SecuritiesLLC terminated the employment of Andrew Lombara, then head of U.S.Treasury trading, and of junior trader Chi Lee. The two were said to havedisagreed with the bank's valuation committee over reserves allotted forcertain trades — and then sidestepped compliance procedures to increase thereserve size. They were "permitted to resign,"based on JPMorgan's report to FINRA, and the latter's own into the incident isongoing.