Major BHC (JPMorgan Chase, or Citibank, or another bank, or all), for civil and/or criminal violations and penalties that were imposed during the period 2018 -20

Essay Instructions:

Banks and Bank Holding Companies (BHCs) are highly regulated - The Federal Reserve, the Office of the Comptroller, the Federal Deposit Insurance Corporation, National Credit Union Administration, the Securities and Exchange Commission form the basic regulatory institutions that produce regulatory policies, audit and oversee banking and investment banking activities, prevent fraud, market manipulation, money laundering and other nefarious activities. Despite these regulatory framework, there are several cases brought to bear on the BHCs. In this forum discuss your research on a major BHC (JPMorgan Chase, or Citibank, or another bank, or all), for civil and/or criminal violations and penalties that were imposed during the period 2018 -20. Discuss the -Nature of the violations – does it violate regulations for the safe conduct of the industry, is it for fraudulent activities, market manipulations, violations of regulatory policies regarding the separation between banking and investment banking within BHCs? -Which regulatory agency was responsible for the case and -The extent of monetary penalty. -Form your conclusions on the need for regulations, audit and control of financial markets and institutions, versus liberalization of regulations because of costs and constraints on growth. As there is no single official source that compiles these cases, your research will have to draw on news media reports during a specified period, say last 2 years. You can choose to search The New York Times (https://search-proquest-com(dot)ezproxy(dot)library(dot)berkeley(dot)org/publication/11561Links to an external site.), or News releases from the Office of the Controller (https://www(dot)occ(dot)gov/news-events/newsroom/news-issuances-by-year/news-releases/index-news-releases.htmlLinks to an external site.) by year. Security and Exchange Commission (SEC) on charges and penalties against Financial Institutions, amongst other sectors. For 2020, here is the link https://www(dot)sec(dot)gov/news/pressreleases?aId=edit-year&year=2020&month=All

Essay Sample Content Preview:

Major Bhc, For Civil And/Or Criminal Violations And Penalties That Were Imposed During The Period 2018 -20 Student’s Name Institution Course Title and Name Instructor’s Name Date Major Bhc, For Civil And/Or Criminal Violations And Penalties That Were Imposed During The Period 2018 -20 Between 2018 and 2020, JPMorgan Chase was among the most extensive banking holding companies (BHCs), and it was associated with several legal problems and penalties due to various violations. In terms of the nature of the violations, JPMorgan Chase violations fall under regulations for the safe conduct of the industry. From January 2018 to November 2020, JPMorgan Chase admitted that the company's workers did not keep records of their clients, which was against the regulations of BHCs (Security and Exchange Commission (SEC), 2021). In addition, recordkeeping is an essential tool in the financial industry since it shows a sign of transparency and accountability between the financial institution and its customers. For this reason, the lack of recordkeeping in the company made it difficult to track their customers' financial transactions, thus expressing a sign of a lack of transparency and governance in the company. It could expose its clients to adverse risks. Security and Exchange Commission is the urgency that dealt with the JPMorgan Chase case for failure to keep records. In addition, it is the obligation of the SEC to oversee the securities markets and formulate federal rules and regulations to govern the financial industries. The Security and Exchange Commission investigation determined that JPMorg...

Updated on August 10, 2024

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