SEC Fines JPMorgan $4 Million Over Accidental Deletion of Millions of Emails

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Acting upon erroneous information, JPMorgan Chase’s brokerage unit deleted 47 million electronic communications, including emails and instant messages, that the company was required to keep, the Securities and Exchange Commission says. It was a costly mistake. On Wednesday, the SEC censured the company and fined it $4 million.

The bank agreed to pay the penalty without admitting or denying the findings of the SEC’s investigation, according to a regulatory order.


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