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JPMorgan nears $200m settlement over failure to monitor traders’ chats

Fine would be large for a record keeping violation

JPMorgan is nearing a deal to pay a $200m fine and admit that it failed to properly monitor employees’ messages, the first settlement to emerge from a regulatory sweep into how banks oversee traders’ chats.

The investigations by the Securities and Exchange Commission and Commodity Futures Trading Commission focused on concerns that the bank didn’t have an adequate system for retaining the chats, according to people familiar with the matter.

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