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JPMorgan: Financial Winners & Losers

JPMorgan Chase shares fell after U.K. regulators imposed a $49 million fine on the U.S. bank.

(JPMorgan and other stock prices brought current in this update.)



) --

JPMorgan Chase

(JPM) - Get Report

was among the losers of the financial sector Thursday after U.K. regulators imposed a $49 million fine on the U.S. bank.

JPMorgan Chase

shares slipped 1% to $39.16 after the U.K. Financial Services Authority fined the bank 33.3 million pounds ($49 million) for failing to protect clients' funds. The fine is the largest the U.K. regulator has ever issued.

The FSA said JPMorgan between November 2002 and July 2009 failed to segregate client money of between $1.9 billion and $23 billion held by its futures and options business. Under the FSA's client money rules, firms are required to keep client money separate from the firm's money in segregated accounts with trust status to protect the client funds if the firm goes bankrupt, according to

The Associated Press


Other U.S. bank stocks were trading mixed following Wednesday's strong performance. On the upside,


(C) - Get Report

rose 1.5% to $3.98.

On the other hand,

Morgan Stanley

(MS) - Get Report

was down 1.2% to $26.85,

Wells Fargo

(WFC) - Get Report

lost 1.1% to $28.85,

Goldman Sachs

(GS) - Get Report

slid 0.7% to $143.79, and

Bank of America

(BAC) - Get Report

slipped 0.4% to $15.83.

More on Citi Top 10 Buy-Rated Stocks Under $5

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Shares of

American International Group's

(AIG) - Get Report

were also trading lower after U.K. insurer

Prudential PLC

(PUK) - Get Report

said Thursday the agreement to acquire

AIG Asian life insurance unit

has been terminated.

On Wednesday,

Prudential PLC

said it was in negotiations to end the deal to buy AIA for $35.5 billion. Prudential had faced strong resistance from shareholders who believed it was paying too much for AIA, and was uncertain whether it could win the required 75% backing from shareholders.

AIG shares were down 0.3% to $34.96, and Prudential PLC shares trading in New York were off 3.1% to $16.07.

Shares of

Charles Schwab

(SCHW) - Get Report

were up 1.5% to $16.69 after FBR Capital Markets upgraded the stock to outperform from market perform, citing "modestly higher short-term interest rates and sharply higher client activity levels."

Among other ratings changes, Credit Suisse upgraded


(KEY) - Get Report

to outperform from neutral. Meanwhile, Stifel Nicolaus cut its rating on

American Capital


to sell from hold, arguing that the probability of bankruptcy has risen significantly on disappointing results of a bondholder vote on debt restructuring.

Despite the upgrade, KeyCorp shares were down 0.4% to $8.21. American Capital shares dropped 8.1% to $4.80.

-- Written by Robert Holmes in Boston


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