WASHINGTON — The brokerage arm of JPMorgan on 17 December agreed to pay $200m in fines and admit that it failed to keep track of employees’ use of personal messaging apps that circumvented record-keeping requirements.
The Securities and Exchange Commission said its fine, $125m, is the largest ever for a breach of rules requiring brokerages to retain most communications so the data can be monitored internally and made available to regulators. The SEC said the breakdown was widespread and hindered
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