J.P. Morgan Under Investigation by Multiple Unnamed Regulators
Bank says its record preservation practices are under the microscope.
August 3, 2021
J.P. Morgan (JPM), a bank, is the target of multiple regulatory inquiries regarding the preservation of records. In its latest 10-Q, J.P. Morgan included new language revealing it is being targeted by multiple regulatory bodies:

“The Firm has been responding to requests for information and other material from certain of its regulators concerning its compliance with records preservation requirements in connection with business communications sent over electronic messaging channels that have not been approved by the Firm.”

J.P. Morgan says it’s currently engaged in “resolution discussions” with regulators but says no agreement has been reached as of the filing date. Earlier this year, J.P. Morgan ordered employees to save work-related text messages on their personal cell phones.
Related: GS, WFC, C, BAC, JEF, SF, HLI, MS
Become a DuDil Insider

Get our due diligence alerts before they're published & be first to know.