JPMorgan, UBS Among 3 Fined By SEC Over ID Theft Controls

By Jon Hill (July 27, 2022, 9:39 PM EDT) — The U.S. Securities and Exchange Commission handed out more than $2.5 million in fines Wednesday to units of JPMorgan Chase & Co., UBS and TradeStation for what the agency alleged were past compliance shortcomings in their identity theft prevention programs.

In a trio of administrative orders, the SEC said it found that J.P. Morgan Securities LLC, UBS Financial Services Inc. and TradeStation Securities Inc. didn’t have sufficiently developed protocols in place between 2017 and 2019 for spotting and responding to signs of potential identity theft in their operations. 

The SEC is resolving its findings with settlements that call for civil penalties of…

Read more

Explore the site

More from the blog

Latest News