October 10, 2012 / 5:46 PM / in 5 years

JPMorgan's Dimon says annual regulation costs to top $1 billion

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WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon said annual overhead costs from new domestic and international regulations will likely reach more than $1 billion.

Dimon, speaking at a Council on Foreign Relations event on Wednesday, said the costs come from the 2010 Dodd-Frank financial reform law, as well as heightened international capital standards and EU regulations.

Reporting By Karey Wutkowski; Editing by Gerald E. McCormick

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