{"id":19383,"date":"2020-12-03T11:15:37","date_gmt":"2020-12-03T17:15:37","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=19383"},"modified":"2020-12-04T11:16:04","modified_gmt":"2020-12-04T17:16:04","slug":"jp-morgan-chase-pay-250m-fine","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/","title":{"rendered":"OCC Orders JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">Office of the Comptroller of the Currency Accuses Bank of Inadequate Internal Controls<\/span><span style=\"font-weight: 400;\">\u00a0\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">JPMorgan Chase Bank has been ordered to pay a $250M penalty. The Office of the Comptroller of the Currency (OCC) contends that the bank engaged in \u201cunsafe and unsound practices\u201d related to its internal controls and an internal audit of fiduciary duties.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With fiduciary assets of $29.1 trillion, <\/span><a href=\"https:\/\/brokercheck.finra.org\/firm\/summary\/79\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">JPMorgan<\/span><\/a><span style=\"font-weight: 400;\"> has one of the biggest and complex fiduciary businesses. It offers many types of investment strategies via different investment vehicles to its clients. The Bank is not denying or admitting to the agency\u2019s findings.<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/\"  title=\"Continue Reading OCC Orders JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Office of the Comptroller of the Currency Accuses Bank of Inadequate Internal Controls\u00a0\u00a0 JPMorgan Chase Bank has been ordered to pay a $250M penalty. The Office of the Comptroller of the Currency (OCC) contends that the bank engaged in \u201cunsafe and unsound practices\u201d related to its internal controls and an internal audit of fiduciary duties.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":19384,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3774,3958],"tags":[4481,3307],"class_list":["post-19383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-dealers","category-jp-morgan-chase","tag-inadequate-risk-management","tag-jp-morgan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices | FINRA Attorneys<\/title>\n<meta name=\"description\" content=\"JPMorgan Chase Bank has been ordered by the OCC to pay $250m in restitution for the inadequate risk management practices they used.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices | FINRA Attorneys\" \/>\n<meta name=\"twitter:description\" content=\"JPMorgan Chase Bank has been ordered by the OCC to pay $250m in restitution for the inadequate risk management practices they used.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/12\/laptop-2562325_640-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices | FINRA Attorneys","description":"JPMorgan Chase Bank has been ordered by the OCC to pay $250m in restitution for the inadequate risk management practices they used.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/","twitter_card":"summary_large_image","twitter_title":"JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices | FINRA Attorneys","twitter_description":"JPMorgan Chase Bank has been ordered by the OCC to pay $250m in restitution for the inadequate risk management practices they used.","twitter_image":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/12\/laptop-2562325_640-1.jpg","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"OCC Orders JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices","datePublished":"2020-12-03T17:15:37+00:00","dateModified":"2020-12-04T17:16:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/"},"wordCount":410,"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/12\/laptop-2562325_640-1.jpg","keywords":["inadequate risk management","JP Morgan"],"articleSection":["Broker-Dealers","JP Morgan Chase"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/","url":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/","name":"JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices | FINRA Attorneys","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#primaryimage"},"image":{"@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#primaryimage"},"thumbnailUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/12\/laptop-2562325_640-1.jpg","datePublished":"2020-12-03T17:15:37+00:00","dateModified":"2020-12-04T17:16:04+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"JPMorgan Chase Bank has been ordered by the OCC to pay $250m in restitution for the inadequate risk management practices they used.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#primaryimage","url":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/12\/laptop-2562325_640-1.jpg","contentUrl":"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2020\/12\/laptop-2562325_640-1.jpg","width":640,"height":426,"caption":"JPMorgan Chase has been ordered to pay $250M by the OCC over claims that they were using inadequate risk management practices."},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/jp-morgan-chase-pay-250m-fine\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"OCC Orders JPMorgan Chase Bank to Pay $250M For Inadequate Risk Management Practices"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; 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