Regulator in the United States and Britain have hit banking giant JPMorgan Chase & Co. with a series of sanctions that will total more than $920 million.
The Federal Reserve Board on Thursday morning announced that JPMorgan will pay a $200 million penalty for deficiencies in the oversight, management, and controls governing its Chief Investment Office (CIO). The Office of the Comptroller of the Currency will also assess a consent civil money penalty of $300 million and the Securities and Exchange Commission will issue an enforcement action that includes a $200 million penalty. The Financial Conduct Authority of the U.K. hit the bank with a $220 million fine.
