JPMorgan Chase Faces $448M Fine for Neglecting Monitoring on Global Trading Venues: Impact on Crypto Market & Coin Performance (JPM)

• JPMorgan Chase is set to pay a total of $448 billion in penalties to US regulators for failing to adequately monitor potential market misconduct in its global trading operations.
• The banking giant has agreed to an additional $100 billion in penalties with an unnamed US regulator, adding to a $348 billion enforcement action by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board (FRB).
• This comes after the OCC and FRB accused JPMorgan of engaging in “unsafe or unsound” banking practices, citing significant gaps in its trade surveillance program.

JPMorgan Chase faces hefty penalties for failing to monitor potential market misconduct, adding another chapter to the banking giant’s history of regulatory issues.

JPMorgan’s Regulatory Troubles

In a recent filing with the U.S. Securities and Exchange Commission (SEC), JPMorgan disclosed that it has agreed to pay an additional $100 billion in penalties to an unnamed US regulator. This comes on top of a $348 billion enforcement action by the OCC and FRB. The two regulatory agencies had accused JPMorgan of engaging in “unsafe or unsound” banking practices, stating that the lender’s corporate and investment bank division had significant gaps in its trade surveillance program.

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