The Federal Reserve said Thursday it has terminated three enforcement actions, closing two legacy orders against UBS (UBS)-owned Credit Suisse and a 2024 order against JPMorgan Chase (JPM).
In last year’s March, JPMorgan (JPM) was fined $348M by the Fed and the Office of the Comptroller of the Currency for inadequately monitoring firm and client trading activities for market misconduct.
For Credit Suisse, the 2014 cease-and-desist order required the company to fix oversight and controls after its tax-evasion case. And the 2020 order mandated broad improvements to its U.S. risk-management and anti-money laundering compliance.