Legal & Regulation

LEGAL & REGULATION

JP Morgan to pay USD75m to settle CFTC charges over employee communication, record keeping and supervision failures

JP Morgan to pay USD75m to settle CFTC charges over employee communication, record keeping and supervision failures

The Commodity Futures Trading Commission issued an order simultaneously filing and settling charges against JP Morgan Chase Bank, JP Morgan Securities , and JP Morgan Securities plc (collectively, JPMorgan), for failing to maintain, preserve, and produce records that were required to be kept under CFTC recordkeeping requirements, and failing to diligently supervise matters related to its businesses as CFTC registrants.  

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GAM International Management Limited reaches GBP9.1m settlement with the FCA

GAM International Management Limited reaches GBP9.1m settlement with the FCA

GAM Holding AG’s UK subsidiary, GAM International Management Limited (GIML), has reached a GBP9.1 million settlement with the Financial Conduct Authority (FCA), over the operation of GIML's conflicts of interest framework between November 2014 and October 2017 and conflicts of interest arising out of three specific investments made by the Absolute Return Bond Fund (ARBF) team between October 2016 and March 2018.