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JPMorgan to pay $350 million for trade-reporting lapses
By Hannah Levitt
Bloomberg News
Friday, February 16, 2024
JPMorgan Chase & Co. expects to pay more than $350 million to settle regulatory claims that it failed to feed information on trades into market-surveillance systems.
The biggest U.S. bank will pay about that much to two US watchdogs and is in advanced talks with a third, the company said today in an annual filing.
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"The firm self-identified that certain trading and order data through the CIB was not feeding into its trade-surveillance platforms," JPMorgan said, referring to its commercial and investment bank. "The firm does not expect any disruption of service to clients as a result of these resolutions."
JPMorgan, which houses Wall Street's largest trading shop, said in November it was cooperating with investigations into whether the firm had provided complete trading and order data as required and that some authorities had proposed penalties. ...
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