The Office of the Comptroller of the Currency (OCC) on Tuesday fined JPMorgan Chase Bank N.A. $250 million for weaknesses in its internal controls and internal audit for its fiduciary activities.
Enforcement actions are often viewed by compliance and audit professionals as containing valuable insights—not just about what happened, but also how the violations were addressed and remedied. Nowhere in the consent order does it say JPMorgan and the OCC agreed to limit the amount of information released about what led to the fine.
