Recently, Jamie Dimon, Chairman of JPMorgan Chase, announced that “…traders in its Chief Investment Office in London may have tried to hide $5.8-billion in money-losing positions resulting from the values the traders had assigned to assets linked to the complex trading positions (DeCambre, 2012, p. 23). The amount was nearly triple the amount of the loss JPMorgan Chase had estimated back in May of 2012. How might broader enforcement of the Sarbanes-Oxley Act of 2002 served to mitigate the damage to JPMorgan Chase’s reputation. Use appropriate references and citations drawn from the Kulzick (2004) article to support your position(s).
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