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Regulatory 'Whale' Hunt Advances

"The first regulatory ripples from the "London Whale" trading fiasco are about to hit J.P. Morgan Chase & Co.

The Office of the Comptroller of the Currency, led by Comptroller Thomas Curry, is preparing to take a formal action demanding that J.P. Morgan remedy the lapses in risk controls that allowed a small group of London-based traders to rack up losses of more than $6 billion this year, according to people familiar with the company's discussions with regulators.

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