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Information Management Blog

The AIIM Blog

Keep your finger on the pulse of Intelligent Information Management with industry news, trends, and best practices.

Frank Fazzio

Frank is a Senior Analyst and licensed attorney with the Consulting division of Zasio Enterprises. Prior to his information governance consulting work, Frank worked with several large banks in New York to train their personnel on financial modeling and valuation methods. Frank’s legal education and background is focused on corporate law, regulatory compliance, bankruptcy, securities, and privacy. Frank’s responsibilities at Zasio include performing in-depth research on jurisdiction-specific laws and regulations, designing and updating enterprise records retention schedules, and advising on the application of retention requirements to client record systems.

Blog Feature

Compliance  |  Electronic Records Management (ERM)

JPMorgan’s $200 Million in Fines Ups the Ante for Recordkeeping Violations

By: Frank Fazzio May 12th, 2022

Late last year, the Securities and Exchange Commission announced that J.P. Morgan Securities LLC had agreed to pay $125 million to help settle charges of “widespread and longstanding failures by the firm and its employees to maintain and preserve written communications” over the course of several years. On the same day, the Commodity Futures Trading Commission (“CFTC”) levied a $75 million fine against J.P. Morgan Securities (“JPMS”), along with two other JPMorgan Chase & Co. (“JPMorgan”) entities, for substantially similar conduct—bringing the combined total penalty involving the JPMorgan parent organization to $200 million.

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