JPMorgan penalized USD 4 million for unintentionally erasing 47 million emails


Share post:

The Securities and Exchange Commission has fined JPMorgan Chase USD 4 million for accidentally deleting 47 million emails, some of which the watchdog was attempting to access.

According to the SEC, subpoenas were issued for many of the permanently deleted emails in at least a dozen regulatory investigations. As staff members worked to troubleshoot a problem with a project to delete older communications that were no longer required to be retained, emails from about 8,700 staff mailboxes were inadvertently deleted in 2019.

This penalty follows a USD 125 million fine imposed on JPMorgan in 2021 for failing to preserve text messages and other communications sent between 2018 and 2020.

Read More: JPMorgan fined $4m for accidentally deleting 47m emails

TalkFintech Bureau
TalkFintech Bureau
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.


Please enter your comment!
Please enter your name here


Related articles

Trading Technologies acquires ATEO to expand its post-trade solutions in global markets

Trading Technologies, a global capital markets technology company, has acquired ATEO SAS, a provider of post-trade solutions for...

Fiserv seeks to acquire Shift4 Payments – Reuters

According to Reuters, Fiserv is competing with Amadeus IT Group for the acquisition of payment processor Shift4 Payments. Shift4,...

Oliver Wyman announces acquisition of Innopay

Oliver Wyman, a management consulting firm and a Marsh McLennan business, has announced the completion of its acquisition...

How FinTech-Bank Partnership Can Redefine Digital Banking

As the digital payment ecosystem evolves, banks recognize the importance of partnering with FinTech companies. However, many of...