Federal banking regulators have slapped JPMorgan Chase with a $250 million civil monetary penalty for risk management and other control failings in its asset and wealth management business.
The Office of the Comptroller of the Currency said it found that the bank’s risk management practices were “deficient and it lacked sufficient controls to avoid conflicts of interest.”
The bank has since taken steps to remedy those deficiencies, the OCC said in its consent order.
The OCC found that JPMorgan had had “a weak management and control framework for its fiduciary activities and had an insufficient audit program for, and inadequate internal controls over, those activities.”
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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