JPMorgan Fined $348M for Deficiencies in Trade Surveillance Program

• JPMorgan fined nearly $350M total for issues with trade surveillance program • Fined $250M by Office of Comptroller of Currency for gaps in trading venue coverage and data controls • Failed to monitor billions of trading instances across 30+ global venues • Ordered to improve program, get OCC approval before adding venues, and hire 3rd party to assess • Separately fined $98.2M by Federal Reserve Board for deficiencies between 2014-2022