JPMorgan fined $920 million in 'London Whale' case

Banking giant JPMorgan Chase agreed Thursday to pay $920 million in fines to US and British regulators over actions involved in last year's "London whale" trading debacle.

The global settlement includes an admission by JPMorgan that it violated US securities laws.

The admission is contained in a 15-page statement of facts in the case that JPMorgan, the biggest US bank by assets, said shows it "violated the federal securities laws."

The violations stem from the misstatement of financial results and poor internal controls over employees who were responsible for $6.2 billion in trading losses in 2012.