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JPMorgan Fined $348 Million for Trade Monitoring Failures

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Source: The Associated Press
JPMorgan Fined $348 Million for Trade Monitoring Failures
Photo: The Associated Press
TL;DR

JPMorgan is facing fines totaling almost $350 million from bank regulators for deficiencies in its trade surveillance program, with the Office of the Comptroller of the Currency imposing a $250 million civil penalty and the Federal Reserve Board fining the bank about $98.2 million. The OCC found that JPMorgan operated with gaps in trading venue coverage and inadequate data controls, failing to monitor billions of instances of trading activity on global trading venues. The bank has been issued a cease and desist order and must take corrective actions to improve its program.

Topics:businessfinance#compliance#finance#fines#jpmorgan#regulatory-issues#trade-surveillance
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  1. JPMorgan fined almost $350M for issues with trade surveillance program  The Associated Press
  2. JPMorgan Hit With Nearly $350 Million Fine for Compliance Failures in Trading  The Wall Street Journal
  3. JPMorgan fined nearly $350M for 10 years of inadequate trade monitoring  New York Post
  4. JPMorgan Chase fined a total of $348.2 million for ‘inadequate’ monitoring and market misconduct  MarketWatch
  5. JPMorgan fined $348 million for the way it monitors trading  Yahoo Finance

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