JPMorgan Chase & Co. Chief Executive Officer Jamie Dimondefended the company's disclosures of a $2 billion trading loss asregulators and lawmakers questioned whether the largest U.S. bankmisled investors.

“We disclosed what we knew when we knew it,” Dimon, making hissecond appearance on Capitol Hill in less than a week, saidyesterday at a House Financial Services Committee hearing inWashington that exceeded four hours.

Dimon went there to explain how the firm lost control of acredit-derivatives account at its chief investment office inLondon. Securities and Exchange Commission Chairman Mary Schapiro,speaking earlier from the same witness table, said the agency has a“wide panoply” of penalties at its disposal to pursue sanctions ifinvestigators find that New York-based JPMorgan violated disclosureor other rules, she said.

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