JPMorgan (JPM) faces a hefty fine of $348.2 million from the Federal Reserve and the Office of the Comptroller of the Currency (OCC) for inadequate monitoring of trading activities between 2014 and 2023. Regulators cited the bank for “unsafe or unsound practices” and a lack of oversight over its trading venues globally, failing to surveil billions of trading instances on 30 platforms. While JPMorgan self-reported the issue and assures no disruption to client services, it marks one of their largest fines in recent years. Previously, JPMorgan had settled charges for incomplete trading data reporting with other regulators for $350 million. This penalty reflects a recurring issue for banks regarding record-keeping, as seen with Goldman Sachs facing a $5.5 million fine for record-keeping violations and Citigroup’s $2.9 million penalty for mismanaging expenses in its underwriting business.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}