JPMorgan Is Fined $200M for Doing Business on Personal Phones, Email – Barrons

JPMorgan Chase will pay $200 million in fines after admitting that employees made widespread use of personal phones, emails and text messages to conduct official business. This violated the record-keeping rules of both the Securites and Exchange Commission and the Commodity Futures Trading Commission.

The SEC censured J.P. Morgan Securities, the bank’s stock-market unit, and will have a compliance consultant ensure that the firm obeys a cease-and-desist order. The CFTC filed and settled separate record-keeping charges.

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