London Mayor Opposes U.k. Press Regulation Plans
Banks Admissions In April last year, Chief Executive Officer Jamie Dimon, 57, initially dismissed media reports that the derivatives bets were distorting markets, calling the attention a tempest in a teapot. The bank disclosed mounting losses a month later. In an SEC settlement last month the bank admitted to oversight lapses and acknowledged it violated federal securities laws. The firms handling of the trades also has been faulted by Senate investigators, the U.S. Office of the Comptroller of the Currency, Federal Reserve and U.K. Financial Conduct Authority. The CFTCs civil settlement stipulates JPMorgan admit to wrongdoing on one day last year, one of the people said. While the CFTC may also reference other trades in its claims, JPMorgan wouldnt admit or deny misconduct in those instances, the person said. The Wall Street Journal reported the settlement amount yesterday, and the New York Times reported the proposed admission. JPMorgan has sought in the past few months to resolve probes into businesses including energy trading, credit-card lending and bundling of mortgages into bonds. The bank said last week it took a $7.2 billion charge for expenses tied to regulatory matters and litigation, leading to its first quarterly loss during Dimons tenure. The firm has yet to resolve state and federal probes into its mortgage-bond sales, including a criminal inquiry.
Press Regulation Plans 8:51 AM PDT 10/14/2013 by Georg Szalai 0 Getty Images London mayor Boris Johnson “You either have a free press or you dont,” says Boris Johnson and shares how he and his family once imitated Eddie Murphy in “Beverly Hills Cop” to play a trick on a reporter. LONDON London mayor Boris Johnson in a newspaper editorial on Monday spoke out against planned U.K. press regulation following the Leveson Inquiry report late last year. our editor recommends “We are on the verge of eroding the freedom of the press,” Johnson wrote in the Daily Telegraph . “It’s a vigorous, voracious press that keeps our country honest. Regulating the media would undermine its ferocious ability to highlight wrongdoing.” He called a planned royal charter outlining the new regulation a “monstrous folly.” Johnson also suggested that a political expenses scandal led British politicians to call for the Leveson Inquiry, not the phone hacking scandal surrounding Rupert Murdoch’s News Corp. “It was the hacking cases that gave them their pretext,” he wrote. Johnson also argued Monday that Britain’s current laws sufficiently protect people from media abuse. “We already have abundant law against obscenity or breach of official secrets. We have laws against libel and defamation, against bugging, hacking, theft, bribery of public officials,” he wrote. “We have a growing tort of breach of privacy. We have no need of some new body backed by statute…and it is wrong in principle.” Concluded the London mayor: “You either have a free press or you dont. You cant sell the pass, and admit the principle of regulation because it is in the nature of regulation that it swells and grows.
Letter from London: A guide to winter 2013 in the West End
Meanwhile, Michael Grandage, the former artistic director of the West End producing powerhouse the Donmar Warehouse, gave us an exuberant Midsummer Nights Dream, oozing free love and Burning Man atmosphere and starring Sheridan Smith an actor fast becoming a national treasure as a pulchritudinous Titania, and Little Britains David Walliams as Bottom. That continues at the Noel Coward until 16 November. And the following month brings Grandages take on the bellicose poetry of Henry V. Jude Law, in the role of the charismatic king, pretty much guarantees returns queues round the block. Also raising the star power and sex appeal of the Bard this season is the Royal Shakespeare Company, which in December brings Gregory Dorans production of Richard II to the Barbican Theatre, with David Tennant as the monarch (a fine actor still best known to British audiences for BBC TVs Doctor Who). Meanwhile at the Donmar, Josie Rourke directs a new staging of the bloody Roman tragedy Coriolanus. Its a good season, too, for Ibsen fans: Carrie Cracknells wildly acclaimed A Dolls House, with its claustrophobic, revolving domestic-prison set and a blazing performance from Hattie Morahan as Nora, continues until 26 October at the Duke of Yorks. And from 3 October theatre veteran Richard Eyres new production of Ghosts is at the Almeida. Staying with the Scandinavian theme, Jack Thornes stage version of Let The Right One In a vampire horror drama based on the novel by John Ajvide Lindqvist and subsequent film will be casting its chilly spell over Londons leading new writing theatre, the Royal Court, from 29 November. But those looking for new writing with a distinctly British flavour could head north, to the Tricycle Theatre in Kilburn, for Moira Buffinis Handbagged, in which the Iron Lady and former Prime Minister, the late Margaret Thatcher faces down the Queen. It plays until 9 November.