JPMorgan Chase fined a total of $348.2 million for ‘inadequate’ monitoring and market misconduct - The Great Awakening

JPMorgan Chase fined a total of $348.2 million for ‘inadequate’ monitoring and market misconduct (www.marketwatch.com) Look! A 17 In Plain Site. 😉

posted 244 days ago by Trump_astic 244 days ago by Trump_astic +40 / -0

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– Trump_astic [S] 1 point 244 days ago +1 / -0

The move comes after the bank disclosed in February that it expected to pay about $350 million in fines for failing to keep records at its corporate and investment bank.

The bank said at the time that it expected to face requirements that it would have to fix the problem and engage an independent consultant.

The $348.2 million in fines is less than the $290 million it agreed to pay to settle a lawsuit by victims of alleged pedophile and former client Jeffrey Epstein. It also paid $75 million to the U.S. Virgin Islands relating to the Epstein case

JPMorgan Chase & Co. has been fined a total of $348.2 million by the U.S. Federal Reserve and the Office of the Comptroller of the Currency for failing to keep track of all of its trading activities, regulators said Thursday.

The fine includes $98.2 million for an “an inadequate program to monitor firm and client trading activities for market misconduct” from the Federal Reserve as well as $250 million from the Office of the Comptroller of the Currency.

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