SEC investigating JPMorgan's accounting practices following $2B trading loss

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The Securities and Exchange Commission has begun reviewing J.P. Morgan Chase Co.'s disclosures related to the $2-billion trading loss announced by the company, according to a person familiar with the matter.

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The review is at an early stage and hasn't progressed to the status of a formal investigation, this person said. Such reviews are routine after public companies report unexpected losses that send their stock prices sharply lower.
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1 SEC investigating JPMorgan's accounting practices following $2B trading loss Sat May 12, 2012 11:30 am