JPMorgan Chase is fined by SEC after mistakenly deleting 47 million emails

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JPMorgan Chase is fined by SEC after mistakenly deleting 47 million emails
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JPMorgan Chase has been fined $4 million by the U.S. Securities and Exchange Commission after about 47 million emails belonging to its retail banking group were mistakenly and permanently deleted.

has been fined $4 million by the U.S. Securities and Exchange Commission after about 47 million emails belonging to its retail banking group were mistakenly and permanently deleted.

Many of the emails were business records that the largest U.S. bank was required under SEC rules to keep for three years. According to a cease-and-desist order, the vendor failed to properly apply the three-year retention setting to "Chase" emails from early 2018.

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