JPMorgan fined US$350m over compliance failures

(Image: WSJ)

Mon, 18 Mar 2024

By Alexander Saeedy Federal regulators have fined JPMorgan Chase roughly US$350 million (NZ$574m) for failing to properly monitor billions of trades that the bank has executed since 2019.The Federal Reserve said JPMorgan didn’t adequately surveil trading and order activity through the firm’s corporate and investment bank across 30 exchanges and other trading venues. The trades were for the firm and for clients.Regulators and law enforcement require banks to watch and record clients and trades as a front line in market poli...

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