JP Morgan fined €1.6m for Irish regulatory breaches

US bank’s Irish entity breached outsourcing requirements on four occasions

An Irish subsidiary of US banking giant JP Morgan has been fined €1.6 million in respect of regulatory breaches relating to the outsourcing of fund administration activities.

JP Morgan Administration Services (JPMAS), a subsidiary of JP Morgan Chase, was found on four occasions to have breached outsourcing requirements set by the Central Bank of Ireland.

In March 2014, the Central Bank carried out a review focused on JP Morgan’s compliance with the requirements which aims...
source: Irish Times

2019-06-26 10:37
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