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JPMorgan Chase fined $348.2M over gaps in trade data reporting

March 14, 2024


The Office of the Comptroller of the Currency fined JPMorgan Chase $250 million Thursday, and the Federal Reserve added a $98.2 million penalty, asserting the bank failed to adequately monitor client trading activities for market misconduct between 2014 and 2023.

JPMorgan “operated with gaps in trading venue coverage and without adequate data controls,” the OCC found, according to a Thursday statement.

The bank “failed to surveil billions of instances of trading activity on at least 30 global trading venues,” the OCC alleged. “These gaps and deficiencies … constitute unsafe or unsound banking practices.”

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