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JP Morgan fined $350m for deficient trade surveillance program

Photo: Michael M. Santiago/Getty Images

The bank failed to surveil billions of trades on at least 30 global trading venues.

The bank has been fined $250m by the OCC and $98m by the US Fed in a joint action by the two agencies.

The OCC investigation found that, since at least 2019, the trade surveillance program at JP Morgan has “operated with certain deficiencies that have compromised its effectiveness”.

The bank

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