JPMorgan Chase & Co plans to spend an additional $4 billion and commit 5,000 extra employees to clean up risk and compliance issues, the Wall Street Journal reported.
JPMorgan will spend $1.5 billion on managing risk and complying with regulations. This will include a 30 per cent increase in risk-control staffing. The report added that JP Morgan Chase & Co plans to add $2.5 billion to its litigation reserves in the second half of the year.
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