JPM
One order down, one to go
JPMorgan just got a small regulatory breather. The Office of the Comptroller of the Currency terminated a March 2024 enforcement action that accused the bank of failing to adequately monitor trading activity across at least 30 global venues.
The messy part of the story
This wasn’t just bureaucratic paperwork. The OCC had said JPMorgan operated with gaps in venue coverage and weak data controls, which allegedly left billions of trades under-surveilled over a long stretch of time. In other words: the bank’s trade-monitoring net had some very obvious holes in it.
Why investors should care
The OCC saying the bank no longer needs that order is a mild win for JPMorgan’s compliance cleanup efforts. But don’t crack the champagne yet — a companion Federal Reserve order still seems to be in place, so the broader regulatory cloud hasn’t fully cleared.
Big picture
For JPM, this is less “problem solved” and more “one annoying pop-up closed.” It reduces one piece of regulatory friction, but the market will still watch whether the remaining Fed order gets lifted and whether the bank can prove its surveillance house is finally in order.