JP Morgan has been fined €1.6 million by the Central Bank for 'unacceptable' regulatory failings

An Irish subsidiary of the US investment bank had breached outsourcing rules.

AN IRISH SUBSIDIARY of US investment bank JP Morgan has been fined €1.6 million by the Central Bank after it was found to have breached Irish financial services regulations.

The Central Bank found that the firm’s Irish subsidiary JP Morgan Administration Services had breached rules governing the outsourcing of fund administration activities. 

Four distinct regulatory breaches were identified by the Central Bank, which all relate to the outsourcing of fund...
source: TheJournal

2019-06-26 13:31
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