Orange isn’t the new black for Jamie Dimon.
The embattled JPMorgan Chase CEO doesn’t expect the bank or any executive to face criminal charges stemming from the FBI probe into the “London whale” fiasco, The Post has learned.
Federal agents have been looking into the complex derivative trade that blew up in the bank’s London office and cost JPM $6.2 billion — and cost Dimon some of his reputation as an ace manager of risk — since shortly after it became known in the spring of 2012.
While the FBI probe is ongoing, there is not enough evidence to support criminal charges, people familiar with the bank said.
Not that JPMorgan is basking under totally clear regulatory skies.
JPM is facing more than $850 million in civil penalties from a cadre of worldwide regulators related to the ill-fated trade.
That’s plenty of whale woe for Dimon.
As early as Thursday morning, financial watchdogs, including the Securities and Exchange Commission; the Office of the Comptroller of the Currency; the Federal Reserve; and the Financial Conduct Authority, a UK regulator, are set to announce a joint set of fines against Dimon’s firm.
Some say the fines could run as high as $900 billion.
The SEC settlement is expected to include an admission by JPM that it had poor risk controls and management oversight.
So far, former JPM traders Julien Grout in France and his boss Javier Martin-Artajo in Spain have been the only execs charged criminally for their role in the whale trade.
Ina Drew, the former head of the Chief Investment Office who oversaw ex-JPMorgan trader Bruno “London whale” Iksil, is not expected to face charges, nor is Iksil himself, who is cooperating with federal authorities.
With a sweeping civil settlement, Dimon is hoping to put at least the lion’s share of the nagging London whale trade, which the CEO initially referred to as a “tempest in a teapot,” behind him.
The Commodity Futures Trading Commission is taking a more aggressive stance against the bank.
Under new Dodd-Frank regulator rules, the CFTC is hoping to lay the groundwork for a case that would suggest JPM’s whale trades represented an attempt to manipulate market prices that bank bosses should have prevented.
It’s unclear when the CFTC might ink an agreement to settle its concerns with JPMorgan, but it’s likely to be in the coming weeks.
Smoothing out the rough patches with regulators is a key goal for Dimon.
In a letter to employees on Tuesday, he said the firm was “rolling up its sleeves” to work better with bank examiners and fix risk oversight.