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J.P. Morgan fined $49 million for mixing client money
Posted by admin on June 3, 2010 · Leave a Comment
The British financial watchdog Financial Services Authority has fined J.P. Morgan’s London arm about $49 million for mishandling clients’ funds, the largest penalty ever delt by the FSA. J.P. Morgan was fined for mixing client money with the firm’s own funds.
The Financial Services Authority said JPMorgan did not “adequately protect” client money held by its [...]
Filed under Finance, News · Tagged with client funds, financial crime, Financial Services Authority, FSA, investment bank, JPMorgan, JPMorgan Chase, JPMorgan Securities, mixing client money, The British financial watchdog
