- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-05-02T16:34:00
JPMorgan Chase said it expects to pay an additional $100 million to an unnamed regulator to settle alleged trade surveillance failures that have already warranted significant fines by two other agencies.
In March, the Treasury Department’s Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB) issued penalties worth more than $348 million against JPMorgan for allegedly failing to surveil “billions” of transactions on 30 trading venues.
In a regulatory filing Wednesday, the bank disclosed a third U.S. regulator will require it to “pay a civil penalty of $100 million after offsets for amounts paid to the OCC and FRB.”
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A subsidiary of JPMorgan Chase will pay an additional $100 million to the Commodity Futures Trading Commission to settle charges it failed to adequately monitor and supervise its trading system.
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.
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.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
