JPMorgan Chase (JPM), which is under regulatory orders to tighten internal controls following a record trading last year, will face more sanctions in the coming months, Chief Executive Officer Jamie Dimon said.

The bet on credit derivatives that lost more than $6.2 billion was "extremely embarrassing, opened us up to severe criticism, damaged our reputation and resulted in litigation and investigations that are still ongoing," Dimon said today in a letter to shareholders. "We received regulatory orders requiring improved performance in multiple areas, including mortgage foreclosures, anti-money laundering procedures and others. Unfortunately, we expect we will have more of these."

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