JPMorgan warns of another potential regulatory fine tied to weak ‘internal controls’ at bank


JPMorgan signage on the door of an office building in New York.

Scott Mlyn | CNBC

JPMorgan Chase said that it is facing another potential fine weeks after paying a record penalty, this time over internal controls in wealth management and other areas.

The bank disclosed the impending action late Monday in a filing, saying that one of its regulators told the New York-based company that it faced action “related to historical deficiencies in internal controls and internal audit over certain advisory and other activities.”

The bank said that it had already improved its controls tied to the proposed penalty and is in ongoing discussions with the regulator, which it did not name.

This story is developing. Please check back for updates.



Source link

Discover

Sponsor

Latest

2021 Hyundai Veloster N gets a big price hike

Pricing for the 2021 Hyundai Veloster N is out, and the base price is far higher than it was last year. The 2020...

Robinhood raises trading limits on restricted stocks, customers can buy 100 GameStop shares now

Trading information for GameStop is displayed on the Robinhood App as another screen displays the Robinhood logo in this photo illustration January 29,...

Why the U.S. election still could represent a triumph of American democracy

People react as media announce that Democratic U.S. presidential nominee Joe Biden has won the 2020 U.S. presidential election, in Los Angeles, California,...

Oxford-AstraZeneca coronavirus vaccine reportedly triggers immune response among adults

A test tube labelled vaccine is seen in front of AstraZeneca logo in this illustration taken, September 9, 2020.Dado Ruvic | ReutersLONDON —...

Apple praised for removing Earpods and charger from iPhone 12 box

The Apple iPhone 12 Pro Max is unveiled during a virtual product launch.Daniel Acker | Bloomberg | Getty ImagesApple's decision to remove the...