Following an investigation by US regulators into a USD 5.8 billion loss in JP Morgan’s London operations in July 2012, those same regulators identified what they deemed to be inadequacies in JP Morgan’s anti-money laundering and sanctions compliance systems. Both regulators, the Office of the Comptroller of the Currency and the New York Federal Reserve Bank, published on 14 January Consent Orders agreed with JP Morgan regarding the implementation of reforms to its internal compliance systems. The FSA announced that its regulatory response to this matter is ongoing and that it is liaising with other regulators.