China probe is latest legal headache for JPMorgan

Whatever the outcome of the latest investigation, Dimon's time is increasingly being consumed by legal and regulatory matters. ... The Department of Justice is investigating whether the bank manipulated U.S. energy markets, the Wall Street Journal reported on Monday. Last month, the bank agreed to pay a $285 million penalty and give back $125 million of trading profits in a settlement with the Federal Energy Regulatory Commission for alleged power market manipulation. JPMorgan neither admitted nor denied violations. ... JPMorgan's annual litigation costs have been around $4.9 billion for each of the last two years, and Peabody expects the cost will be $1.5 billion to $2 billion over each of the next two quarters. On average Wall Street expects roughly $300 million to $500 million per quarter, he added.