Tuesday, January 16, 2024

Hush Money: JP Morgan Pays $18 Million Fine For Violating Whistleblower Protection Rules

Hush Money: JP Morgan Pays $18 Million Fine For Violating Whistleblower Protection Rules

Tyler Durden's Photo
BY TYLER DURDEN
TUESDAY, JAN 16, 2024 - 11:00 AM

While Elizabeth Warren continues to espouse the anti-crypto movement, citing corruption and money laundering, her pal in loathing bitcoin, Jamie Dimon at JP Morgan, has started off a new week with yet another settlement with the government for regulatory infractions. 

Without admitting or denying charges by the U.S. Securities and Exchange Commission, the bank paid an $18 million fine this week for violating whistleblower protection rules with its confidentiality agreements over the course of a 3 year period, according to Morningstar and MarketWatch.

An SEC press release stated: "According to the SEC’s order, from March 2020 through July 2023, JPMS regularly asked retail clients to sign confidential release agreements if they had been issued a credit or settlement from the firm of more than $1,000."

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