current position:Home>US SEC and CFTC fined JPMorgan Chase US $200 million for violating the law due to the chat work of communication software

US SEC and CFTC fined JPMorgan Chase US $200 million for violating the law due to the chat work of communication software

2022-02-04 17:35:15 TechWeb

Because of the indulgence of executives and employees to use instant messaging software and private email to discuss work matters , Friday USA SEC And the commodity futures trading commission (CFTC) Separately issued a total for JPMorgan securities 2 A million dollar ticket .


It is worth mentioning that , It is not common for regulators to punish business data custody problems , This time, the two regulators did not give the world's largest banks the opportunity to avoid admitting mistakes and settle directly . JPMorgan Chase will report to SEC payment 1.25 Billion dollars in fines , and CFTC Ticket value 7500 Thousands of dollars . The latest ticket has significantly exceeded SEC stay 2006 A similar illegal act was issued to Morgan Stanley in 1500 Million dollars in tickets .

according to SEC Notice , JPMorgan securities acknowledges that , At least in the 2018 year 1 Month to 2020 year 11 During the month , Employees of the agency often use instant messaging software and personal email on their private devices to discuss securities business issues , And the company did not comply with the federal 《 Securities law 》 Keep these records . The agency also acknowledges that , This violation is very common in the company , Including managing directors and other senior managers with regulatory responsibilities, they often use private devices to discuss business .

And in the CFTC In the investigation report of , It shows that JPMorgan's similar behavior violates 《 Commodity trading law 》 The history of can be traced back to 2015 year .

SEC Deputy director of law enforcement department Sanjay Wadhwa Friday said , J.P. Morgan's violations have hampered SEC Several ongoing investigations , Forcing regulators to take additional steps . This penalty shows the seriousness of the violation , Companies must share the responsibility of investor protection , Instead of causing obstacles .

JPMorgan disclosed in August that it was accepting the relevant “ Data preservation issues ” The investigation of . According to media reports , The actions of the two regulators have also had an impact on employees . JPMorgan Chase had previously instructed its traders 、 Banker 、 Financial advisor , Even some branch employees keep their personal equipment data , For regulatory investigation .

Regulators also said a similar investigation is still under way , More financial institutions may be involved , It is hoped that the relevant companies can report the existing violations by themselves .

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