JPMorgan Chase Fined $350 Million for Inadequate Trade Monitoring
TL;DR Summary
The Federal Reserve Board has fined JPMorgan Chase & Co. approximately $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct between 2014 and 2023. The Board's action requires JPMorgan Chase to review and address the firm's inadequate monitoring practices. This enforcement action was taken in coordination with the Office of the Comptroller of the Currency, and the total penalties amount to approximately $348.2 million.
Topics:business#enforcement-action#federal-reserve-board#finance#fine#jpmorgan-chase-and-co#market-misconduct
- Federal Reserve Board issues enforcement action against JPMorgan Chase & Co. and fines the firm approximately $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct Federal Reserve
- JPMorgan Fined by OCC, Fed Over Gaps in Trading-Surveillance Program Bloomberg
- JPMorgan Chase fined a total of $348.2 million for ‘inadequate’ monitoring and market misconduct MarketWatch
- JPMorgan to pay nearly $350 million in penalties for inadequate trade reporting Yahoo Finance
- JPMorgan fined nearly $350 million for inadequate trade reporting Reuters
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