Yet, he pointed out, the CEO on Feb.29 filed a certification required by law that the bank had adequate risk controls in place and that management's assessment of the firm determined there were no material weaknesses in its internal controls or financial reporting as of Dec. 31, 2011.
"I know you are entitled to rely on your subordinates in making that certification, but was that certification correct?," Miller asked Dimon.
"It was to my knowledge at the time," Dimon replied.
When pressed on whether he believed it was still true based on his information now, the CEO was a little more evasive. " We try to disclose what we are supposed to disclose," he said and later added " I believed at the time that the risk controls at CIO
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