Economy

JP Morgan accidentally deletes evidence in multi-million record retention screwup

TheRegister By Dan Robinson,

Credit ccnull.de 

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JPMorgan Chase
SEC

JP Morgan has been fined $4 million by America's securities watchdog, the SEC, for deleting millions of email records dating from 2018 relating to its Chase Bank subsidiary.

The financial services giant apparently deleted somewhere in the region of 47 million electronic communications records from about 8,700 electronic mailboxes covering the period January 1 through to April 23, 2018.

Many of these, it turns out, were business records that were required to be retained under the Securities Exchange Act of 1934, the SEC said in a filing [PDF] detailing its findings.