JPMorgan Agrees To Pay $4M Penalty Over Deleting Electronic Communications
Portfolio Pulse from Akanksha Bakshi
JPMorgan Chase & Co. has agreed to pay a $4 million settlement to the U.S. Securities and Exchange Commission (SEC) for accidentally deleting 47 million electronic messages it was required to keep. The deleted messages could affect future investigations, legal matters, and regulatory inquiries.
June 23, 2023 | 12:08 pm
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JPMorgan Chase & Co. will pay a $4 million settlement for accidentally deleting electronic messages, potentially affecting future investigations and regulatory inquiries.
The $4 million settlement is a negative event for JPMorgan as it highlights regulatory issues and potential future investigations. This could lead to a short-term negative impact on the stock price.
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