The U.S. Securities and Exchange Commission (SEC) has censured JPMorgan Chase & Co. (JPM) over an alleged failure to stop a swap trader from conducting business in the United States.
The regulator's order, dated October 2, 2026, states that JPMorgan failed to establish, maintain, and enforce a written anti-money laundering (AML) program that was reasonably designed to prevent the trader from engaging in prohibited activities. Specifically, the SEC alleges that the trader was able to continue trading in the U.S. despite internal controls that should have identified and blocked the activity.
Under the terms of the order, JPMorgan has agreed to cease and desist from future violations of the securities laws. The bank has also consented to the entry of the censure. Notably, the SEC did not impose a monetary fine on the financial institution.
