JPMorgan Chase & Co. (NYSE:JPM) has reportedly agreed to pay at least $750 million in fines in connection with the London Whale trading losses. That’s according to a report from Dawn Kopecki of Bloomberg.

JPMorgan Chase

JPMorgan tries to settle London Whale investigations

She cites sources who have said the bank is trying to settle as many of the investigations as possible before the end of September, which brings with it the end of the third quarter. According to the report, the bank has agreed to the fines to settle regulatory probes in both the U.S. and the U.K.

The investigations into the so-called London Whale case have been going on for more than a year. JPMorgan Chase & Co. (NYSE:JPM) lost billions of dollars through risky trades made by London-based trader Bruno Iksil, known as the London Whale for the size of his risky trades.

JPMorgan Chase could face sanctions

Regulators in both the U.S. and the U.K. opened investigations into the losses associated with those risky derivatives bets. They began probing the bank’s controls and disclosures in connection with the losses, which soared past $6.2 billion.

According to Bloomberg’s sources, numerous agencies, including the Securities and Exchange Commission in the U.S., the Federal Reserve, and the Office of the Comptroller of the Currency in the U.S., were getting ready to sanction JPMorgan Chase & Co. (NYSE:JPM). The Financial Conduct Authority in the U.K. was also said to be preparing to sanction the bank.

JPMorgan could announce settlements

The sources also said some settlements in the case could be announced this week, and the total penalties which will be paid by JPMorgan Chase & Co. (NYSE:JPM) could change. They said the bank could face fines from U.S. Attorney Preet Bharara and state attorneys general, each of whom are running separate investigations and could levy penalties against it.

Ikisil agreed earlier this year to testify against other traders in the London office in exchange for charges not being filed against him.  Iksil’s former boss Javier Martin-Artajo and junior trader Julien Grout already face charges on allegations of conspiracy to hide the severity of the losses.