Legal
MAS Imposes Civil Penalty of $2.4 million on JPMorgan Chase Bank, N.A. for Misconduct by its Relationship Managers
The Monetary Authority of Singapore has imposed a civil penalty of $2.4 million on JPMorgan Chase Bank, N.A. (JPM), for failing to prevent and detect misconduct committed by its relationship managers (RMs). In 24 over-the-counter (OTC) bond transactions[1], the RMs had made inaccurate or incomplete disclosures to clients, resulting in…
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