- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-05-02T16:34:00
JPMorgan Chase said it expects to pay an additional $100 million to an unnamed regulator to settle alleged trade surveillance failures that have already warranted significant fines by two other agencies.
In March, the Treasury Department’s Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB) issued penalties worth more than $348 million against JPMorgan for allegedly failing to surveil “billions” of transactions on 30 trading venues.
In a regulatory filing Wednesday, the bank disclosed a third U.S. regulator will require it to “pay a civil penalty of $100 million after offsets for amounts paid to the OCC and FRB.”
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JPMorgan Chase will pay $348.2 million in fines to settle allegations laid by two federal banking regulators that it failed to adequately monitor trading and order activity.
A subsidiary of JPMorgan Chase will pay an $18 million fine to the Securities and Exchange Commission for allegedly violating the agency’s whistleblower protection rule in hundreds of settlement agreements with clients and customers.
JPMorgan Securities agreed to pay $4 million to settle charges levied by the Securities and Exchange Commission regarding record retention violations related to the deletion of approximately 47 million electronic communications.
Evoqua Water Technologies agreed to pay $8.5 million as part of a nonprosecution agreement with the Department of Justice to settle admitted criminal charges related to fraudulent revenue recognition.
The Department of Homeland Security announced its largest batch of additions to the list of companies blocked under the Uyghur Forced Labor Prevention Act in the form of a sweep of the Chinese textile industry.
The Department of Justice notified aerospace giant Boeing it breached its 2021 deferred prosecution agreement that required compliance commitments following high-profile crashes of its 737 MAX airplane.
