JPMorgan Chase Pays $348M Penalties by Fed & OCC (1)

JPMorgan Chase Bank pays a $250 million civil money penalty imposed by the Office of the Comptroller of the Currency related to deficiencies in its trade surveillance program.

• Separately, the Federal Reserve Board fined the firm about $98.2 million for an inadequate program to monitor firm and client trading activities for market misconduct
• The board’s action requires JPMorgan to review and take corrective action to address the firm’s inadequate monitoring practices, which occurred between 2014 and 2023

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