JPMorgan to Pay Another $100M for Failing to Monitor Orders

“We self-identified the issue, significant remedial actions have been taken and others are underway; and we have not found any employee misconduct or harm to clients or the market in our review of the previously uncaptured data,” said the bank’s statement. “We do not expect any disruption of service to clients as a result of these resolutions.”

In the settlement order, JPMorgan indicated that the surveillance gaps were resolved by 2023. The bank admitted to some of the CFTC’s allegations. In addition to the CFTC fine, JPMorgan agreed to hire an independent consultant to review the bank’s trade surveillance and fix any issues they find.

In March, JPMorgan agreed to pay the Fed and OCC a total of more than $300 million to settle their investigations into the matter. As a condition of the OCC settlement, the bank wasn’t allowed to add new trading venues without receiving approval from that regulator.