No US charge for London whale

The trader at the center of JPMorgan Chase's $6.2bn (£4bn) trading loss last year will not face US charges related to the incident, a source familiar with the matter said last night. Meanwhile, another source said JPMorgan is close to reaching a settlement with securities regulators over the trading loss. Bruno Iksil, who worked in JPMorgan’s chief investment office in London, is cooperating with government investigators, the source said.