The Federal Reserve Board on Thursday announced the termination of an enforcement action against JPMorgan Chase & Co. from January 2013.
The enforcement action identified deficiencies in the firm's internal controls, particularly at the firm's Chief Investment Office (CIO), following the disclosure of significant losses in a large synthetic credit portfolio managed by the CIO. The enforcement action required the firm to improve its risk-management program and internal audit functions and was terminated based on evidence of substantial improvements by the firm.
The enforcement action from January 2013 can be found here. For media inquiries, call 202-452-2955.
