- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-11-04T19:04:00
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.”
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The OCC fined JPMorgan Chase Bank N.A. $250 million for weaknesses in its internal controls and internal audit for its fiduciary activities.
JPMorgan Chase agreed to pay more than $920 million as part of an agreement with three federal agencies to settle allegations that the firm’s traders manipulated the precious metals markets with false trades.
Elon Musk, the world’s wealthiest person and the apparent right-hand man of incoming U.S. president Donald Trump, has been taken to court for a third time by the Securities and Exchange Commission for allegedly violating securities law.
Twelve more firms have been dinged with fines by the Securities and Exchange Commission for failing to properly supervise employees who used off-channel communications to conduct company business. In this latest round of enforcement actions, nine investment advisers and three broker-dealers will pay a total of $63 million.
Capital One promised very high interest rates on millions of savings accounts but the bank didn’t deliver, losing customers more than $2 billion, the Consumer Financial Protection Bureau alleged.
Robinhood, a disruptive force in the market for Main Street investors but also a serial offender of securities laws, will pay a total of $45 million to settle numerous violations of SEC rules and regulations by two of its broker-dealers.
