US fund management industry faces inquiry

The US fund management industry should brace itself for a Spitzer-style political inquiry into its practices, according to Philippa Malmgren, who served on the White House National Economic Council and was an adviser to President George Bush until last year.

Speaking at the annual Fund Forum Conference in Nice, Malmgren warned: "The question will be asked, 'Where did the missing seven trillion dollars go?''

WSJ Logo
JPMorgan to Pay $330 Million Over 1MDB TransactionsExternal link

JPMorgan to Pay $330 Million Over 1MDB Transactions