JP Morgan hit by record fine from FSA

Mark Sands
28 Jun 2010

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

LONDON – JP Morgan has been fined a record £33.3 million by the UK Financial Services Authority (FSA). The fine, the largest ever issued by the UK regulator, is for failing to protect client money by segregating it properly.

Between November 2002 and July 2009, JP Morgan held up to £15.6 billion of client money in firm accounts. Had it hit financial trouble at any point during this period, the client money would have been at risk of loss.
The fine is substantially larger than any given out by the

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact [email protected] to find out more.

You are currently unable to copy this content. Please contact [email protected] to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email [email protected]