Mail disorder – J.P. Morgan Fined by SEC for deletion of 47million communications
The financial services giant has been fined $4 million and censured for the permanent deletion of communications data that was required to be retained under Exchange Act rules.
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SEC will reward cooperation where firms “mess up” with unauthorized communication
SEC Chair, Gary Gensler has suggested that financial institutions “did not act as if they got the message” around unauthorized communications. Is the regulator changing its approach?