JPMorgan to pay nearly $350 million in penalties for inadequate trade reporting
WASHINGTON, USA – JPMorgan Chase & Co has been fined $348.2 million by a pair of US bank regulators over its inadequate program to monitor firm and client trading activities for market misconduct, the Federal Reserve announced Thursday.
The Fed fined the bank alongside the Office of the Comptroller of the Currency, and said the misconduct occurred between 2014 and 2023.
JPMorgan disclosed in February that it expected to pay roughly $350 million in civil penalties for reporting incomplete trading data to surveillance platforms.
It said at the time it was also in “advanced negotiations” with a third regulator that may not result in resolution. – Rappler.com