CenturyLink Field, home of the Seattle Seahawks.

But the strategy instead morphed into proprietary trading for the bank’s benefit partly funded with federally insured deposits. In trying to move past the incident, JPMorgan publicly acknowledged that it had violated federal securities laws and conceded that the losses occurred against a backdrop of deficient accounting controls. The bank also acknowledged that senior management knew that London traders were using a valuation system designed to minimize the size of the losses. JPMorgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses. SEC official George Canellos The settlements require improvements in internal oversight by the bank’s board of directors, steps to remedy “unsafe and unsound” banking practices, plus upgraded audit functions. “JPMorgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses,”said George Canellos, co-director of the enforcement division at the Securities and Exchange Commission, one of the regulators involved in the settlements. “While grappling with how to fix its internal control breakdowns, JPMorgan’s senior management broke a cardinal rule of corporate governance and deprived its board of critical information it needed to fully assess the company’s problems and determine whether accurate and reliable information was being disclosed to investors and regulators.” Investigators echoed a scathing Senate report that earlier this year concluded JPMorgan had kept bank regulators in the dark about the losses by withholding important information. “Bank management must also ensure open and effective communication with supervisors so that we can effectively do our jobs,” said Comptroller of the Currency Thomas Curry in a statement issued with his agency’s settlement filing. “Anything less is unacceptable and will not be tolerated.” The Federal Reserve, and Financial Conduct Authority in Great Britain also settled their investigations with the bank. “We have accepted responsibility and acknowledged our mistakes from the start, and we have learned from them and worked to fix them,” said JPMorgan CEO Jamie Dimon in a statement issued by the bank. “We will continue to strive towards being considered the best bank across all measures not only by our shareholders and customers, but also by our regulators.” In an unrelated issue, the Comptroller of the Currency announced enforcement actions against the bank Thursday for unfair billing practices related to identity-theft protection and for problems in connection with efforts to ensure that service members receive credit protection for their non-home loans. The bank said it had moved to redesign its practices.

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Pittsburgh Steelers will play against the Minnesota Vikings at Wembley Stadium in London, on Sunday Sept. 29, 2013. (Photo: Lefteris Pitarakis, AP) The Minnesota Vikings “host” the Pittsburgh Steelers on Sept. 29 in London Also at Wembley Stadium, the Jacksonville Jaguars face the San Francisco 49ers on Oct. 27 Wembley holds 84,500 for American football, and the games were virtual sellouts within two weeks SHARE 19 CONNECT 19 TWEET 1 COMMENTEMAILMORE The NFL’s British fan base has grown rapidly since the international series began at Wembley Stadium in 2007. But the league’s head of international business isn’t ready to say the NFL is close to putting a team in London full-time. “We’d like to continue to grow our fan base even more aggressively,” Chris Parsons, the NFL’s senior vice president of international, told USA TODAY Sports this week. “And whether that’s doubling it from where it is today I’m not entirely sure what the exact number is I certainly would want us to be even bigger in the UK before we made a move like that, which clearly wouldn’t be something that would happen in the near term.” For the first time, the international series will put two games in London this year, starting with the Minnesota Vikings “hosting” the Pittsburgh Steelers on Sept. 29. The Jacksonville Jaguars who have agreed to play a “home” game in London each season through 2016 and could be the main target if the NFL considers moving a team face the San Francisco 49ers on Oct. 27. GOODELL: Speaks out on Goldson appeal Tickets for both games at Wembley Stadium, which holds 84,500 for American football, were virtual sellouts within two weeks, Parsons said. A restricted number of “season tickets” that gave fans tickets for both games were the first to go. “The data that we’ve collected over the past four years really has shown our fan base has grown exponentially,” said Parsons, a UK native who grew up listening to NFL games on Armed Forces Radio and has been working with the league for five years.

Eight arrested over e-theft from Barclays in London

British police said Friday they have arrested eight men after a gang stole ??1.3 million (1.5 million euros, $2.09 million) from Barclays bank by taking control of a branch computer system.AFP/File LONDON (AFP) British police said Friday they have arrested eight men after a gang stole ??1.3 million (1.5 million euros, $2.09 million) from Barclays bank by taking control of a branch computer system. The men, aged between 24 and 47, were arrested on Thursday and Friday morning on allegations of conspiracy to steal from Barclays and conspiracy to defraud British banks. They are accused of a theft in April, when a man purporting to be an IT engineer arrived at a Barclays branch in north London saying he was there to fix the computers. He then attached a keyboard, video and mouse (KVM) device with a 3G router to one of the computers, according to a statement from the Metropolitan Police. Such devices are routinely used by people in business to work remotely on their office computer systems, but it allowed the gang to remotely transfer money into their bank accounts. “Those responsible for this offence are significant players within a sophisticated and determined organised criminal network, who used considerable technical abilities and traditional criminal know-how to infiltrate and exploit secure banking systems,” said Detective Inspector Mark Raymond of the Central e-Crime Unit. Barclays recovered “a significant amount” of the money stolen, police said, but the arrests are the first in the five-month investigation into the crime. Officers searched a number of addresses across London and Essex, east of the capital, and seized cash, jewellery, drugs, “thousands of credit cards” and personal data, the statement said. One central London premises searched was described by detectives as the “control” centre of the operation. Police foiled a similar plot against Santander last week, arresting 12 men accused to trying to take control of a computer in a branch in London’s financial district. Four men were later charged with conspiracy to steal.

London Fashion Week: From fairytale gowns to bright, structured looks, there’s something for everyone

Bright looks at the Paul Smith show during London Fashion Week.

Stuart C. Wilson/Getty Images Bright looks at the Paul Smith show during London Fashion Week. There were long dresses embroidered with hand-cut silk flowers and with lace and crystals, gowns printed with a pattern of purple orchids and lace created out of the patterns of trailing leaves. “It’s about transporting you into another mood. We all live such normal lives, with work, it’s nice to have fantasy clothes,” the designer told AFP backstage after the show. Samir Hussein/Getty Images Cara Delevingne hits the runway for TopShops Unique fashion show in London on Sunday. The label recently appointed a new chief executive, Ulrik Garde Due, who will use his experience at Burberry and Celine to promote it as a luxury lifestyle brand. “Now we’ve got the (everyday) Alice line, we’ve got a good business, we don’t have to be so commercial with the runway. We can be more creative,” Temperley said. Tim P. Whitby/Getty Images A playful look from Greek designer Mary Katrantzous London Fashion Week show on Sunday.