Don't let one bad apple ruin it for the rest of us- be vigilant, my beautiful babies.
To: Investment Bank, North America
Sent: Thursday 9/15/2011 2:42PM
Subject: Unauthorized Trading
Today UBS announced that it discovered an estimated $2 billion loss due to unauthorized trading by a trader it its Investment Bank, which may result in a net loss for the bank's third quarter. This incident illustrates the monetary and reputational damage that a single individual's misconduct can potentially cause a global financial institution.
All of us have a duty to adhere to the highest standards of integrity and fair dealing, and to comply with the spirit as well as the letter of the law, regulations and policies that govern our business activities. JPMorgan depends on you not only to observe these standards in your own business dealings but to be vigilant to the potential misconduct of fellow colleagues, clients, or our service providers. Our Code of Conduct requires you to promptly escalate any known or suspected violation, either to your supervisor, Legal and Compliance or anonymously to the Code Reporting Hotline or the Global Security and Investigation Department.
Questions? Please contact your Compliance Officer.