The Securities and Exchange Commission (SEC) fined JPMorgan Chase’s broker-dealer arm $4 million for deleting tens of millions of emails from early 2018, with some relating to subpoenas in regulatory investigations.
According to a June 22 administrative order, the federal regulator stated that JPMorgan Securities erased 47 million emails during the period of Jan. 1, 2018, to April 23, 2018. These electronic messages were requested by subpoenas in at least a dozen regulatory probes and “could relate to potential future investigations, legal matters, and regulatory inquiries.”
