JPMorgan expects added $100M penalty for trade surveillance shortcomings
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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