- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-02-20T20:29:00
JPMorgan Chase disclosed in a regulatory filing it expects to be penalized approximately $350 million by two unnamed U.S. regulators over lapses in its trading surveillance activities.
The firm self-identified “certain trading and order data through the CIB (corporate and investment bank) was not feeding into its trade surveillance platforms,” according to JPMorgan’s latest annual report filed Friday.
As part of an internal investigation, the firm said it nearly completed reviewing data not originally surveilled and, so far, has “not identified any employee misconduct, harm to clients, or the market.”
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
JPMorgan Chase will pay $348.2 million in fines to settle allegations laid by two federal banking regulators that it failed to adequately monitor trading and order activity.
The Financial Industry Regulatory Authority fined Goldman Sachs $512,500 for allegedly failing to properly surveil certain types of securities for potential manipulative trading activity for more than a decade.
A subsidiary of JPMorgan Chase will pay an $18 million fine to the Securities and Exchange Commission for allegedly violating the agency’s whistleblower protection rule in hundreds of settlement agreements with clients and customers.
Eight business executives, including the billionaire owner of Indian energy company Adani Group, were charged with fraud for their alleged roles in a multi-million bribery scheme to win a solar energy contract in India.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
