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In
a response to government inquiries about its trading processes,
the lender said certain trading and order data through its
Corporate and Investment Bank unit was not fed into its trade
surveillance platforms.
"While the identified gaps represent a fraction of the overall
activity across the Corporate and Investment Bank (CIB), the
data gap on one venue, which largely consisted of sponsored
client access activity, was significant," the company said in
the filing.
JPMorgan has, however, "not identified any employee misconduct,
harm to clients or the market."
The $350 million penalties are expected to resolve the matter
with two U.S. regulators, the bank said, without specifying
which agencies were involved.
JPMorgan is in "advanced negotiations" with a third regulator
which may not result in a resolution, it added.
(Reporting by Pritam Biswas in Bengaluru; Editing by Shinjini
Ganguli and Lananh Nguyen)
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