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The
bank could reach a settlement with the U.S. Securities and
Exchange Commission and the Commodity Futures Trading Commission
before the end of the year, the report said. However, the figure
is preliminary and could change, the report added.
The CFTC and the SEC did not immediately respond to Reuters
requests for comment. JPMorgan declined to comment.
Many financial firms ban the use of personal email, texts and
other social media channels for work purposes, but have
struggled to keep up with a proliferation of different modes of
communication, especially during the pandemic.
Regulators are ramping up enforcement under the Biden
administration. In October, Reuters reported the SEC had opened
an inquiry into how Wall Street banks are keeping track of
employees' digital communications related to work-matters.
(Reporting by Niket Nishant in Bengaluru, Additional reporting
by Michelle Price and Praveen Paramasivam; Editing by Shailesh
Kuber)
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