A subsidiary of JPMorgan Chase is facing a potential civil penalty “related to historical deficiencies in internal controls and internal audit over certain advisory and other activities.”
JPMorgan Chase Bank N.A. was alerted to the potential fine by one of its U.S. regulators, which is unnamed in the Monday quarterly filing with the Securities and Exchange Commission. JPMorgan said the bank “already has controls in place to address the deficiencies related to the proposed penalty.”
