Tagged: Deficient Record-Keeping

JP Morgan Fined $348 Million for Deficient Record-Keeping

JP Morgan Fined $348 Million for Deficient Record-Keeping

Regulators with the Federal Reserve and the Office of the Comptroller of the Currency (“OCC”) have fined JP Morgan Chase & Co. a combined total of $348.2 million over the bank’s failure to monitor client trading activities between 2014 and 2023. The enforcement action is a testament to regulators’ emphasis on the importance of sound market conduct risk controls, to which diligent record-keeping remains paramount....