JP Morgan Chase has been holding discussions with UK regulators about the roughly $2bn of trading losses incurred by the giant bank's investment office, according to people familiar with the matter.

The talks with the Financial Services Authority do not represent a formal inquiry by the regulator, one person said, and it is not clear whether it will result in any action by the regulatory agency. The FSA has been requesting information from JP Morgan about how the trading losses occurred and what steps the bank is taking to avoid such situations in the future, the people said.