Singapore cenbank fines JPMorgan $1.8 mln over misconduct by relationship managers

The Monetary Authority of Singapore (MAS) said JPMorgan’s relationship managers provided inaccurate or incomplete information to clients in 24 instances of over-the-counter bond transactions, charging them spreads above the agreed rates. MAS said in a statement that JPMorgan Chase did not have adequate processes and controls to ensure that relationship managers adhered to pre-agreed spreads...