JP Morgan Pays $200M on Recordkeeping Failures

By Matt Kelly | December 17, 2021 |
JP Morgan

JP Morgan has agreed to pay $200 million to securities regulators for “widespread and longstanding failures” to preserve employee communications in the bank’s broker-dealer unit, where bankers routinely talked shop using WhatsApp, personal email accounts, and text messages on personal devices.  The bank will pay $125 million to the Securities and Exchange Commission, the agency’s …

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Better Compliance Strategies for Email Risk

By Matt Kelly | May 18, 2016 |

Harvey Pitt, a former chairman of the Securities and Exchange Commission, had a pithy observation about corporate compliance called the Pitt Rule of Discovery: “A document necessary for a company’s defense shall not be found when needed, unless the document actually makes the company’s situation worse—in which case, said document will be discovered at the…

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