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JPMorgan (NYSE:JPM) publicized on Friday its anticipated entry into settlements with two U.S. regulators, entailing a combined payment of around $350 million in civil penalties.
The declarations come amidst JPMorgan’s ongoing dealings with government inquiries into its procedures for cataloging trading venues and confirming the integrity of specific data supplied to trade surveillance platforms, as detailed in the company’s SEC filing.
The investigations into trading venues are focused on particular trading and order data from JPMorgan’s Wholesale Business, Corporate & Investment Bank (“CIB”), which failed to be integrated into the bank’s trade surveillance platforms. Consequently, JPMorgan has implemented improvements to CIB’s venue inventory and data completeness controls and is currently undertaking additional remedial measures.
JPMorgan also indicated that it is in advanced negotiations with a third U.S. regulator; however, the 10-K filing cautioned that there are no assurances that these discussions will result in a resolution.
JPMorgan experienced a marginal 0.1% decline in after-hours trading.
