U.S. Securities and Exchange Commission (SEC) officials on Thursday slapped a $4 million fine against JPMorgan Chase after the multinational financial service allegedly deleted approximately 47 million communications amid a dozen civil securities-related investigations.
The commission alleged that JPMorgan Securities deleted millions of emails and instant messages in 2019 that were dated between January to April of 2018.
According to the settlement order, the messages were deleted from about 8,700 mailboxes belonging to as many as 7,500 employees who had regular contact with Chase customers.