CC takes lead role as FSA hands out record £33m fine to JP Morgan
03-Jun-2010 | Banking & Finance, Financial Institutions & Services
The Financial Services Authority (FSA) has handed out a record £33.32m fine to JP Morgan in the latest sign of a tougher regulatory stance from the City watchdog.
The penalty, which was announced today (3 June), was handed out after JP Morgan failed to protect client money by keeping it with its own money for almost seven years between 2002 and 2009 following the merger of JP Morgan and Chase Manhattan.
Lawyers Shane Gleghorn
Shane Gleghorn provides comments on this matter which are published in this article written by Legal Week on 3 June 2010 and reproduced with the kind permission of the editors.
