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Topic - George S. Canellos
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"JPMorgan failed to keep watch over its traders as they overvalued a very complex portfolio to hide massive losses," said George S. Canellos, co-director of the SEC's Division of Enforcement. "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."