JP Morgan Chase fined a record $49M by U.K. FSA
The U.K. Financial Services Authority said today that it has imposed a record fine against JP MOrgan Chase for failing to properly segregate client money in order to protect it. Had the firm become solvent at any time during the period of 2002 and 2009 (and so many firms did or came close) the client money would have been at risk of loss.
Oops!
Bad bad Chase, Legal & regulatory | admin June 3, 2010
