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JP Morgan fined by SEC for deleting email records

theregister.com

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Re: JP Morgan fined by SEC for deleting email records

#81

Post by aziaziazi »

jprete wrote: post #76
aziaziazi wrote: post #67

Earlier quoted context omitted.

Can’t you pay to get out of detention in the US?

Do you mean bail? The only thing bail does is get the defendant out of jail until the trial, and the only (Constitutional) reason to jail someone before trial is to make sure they show up. E.g. Elizabeth Holmes got out on bail, but just recently went in to serve her sentence.

Indeed I meant bail. I always thought you can avoid jail that way in that country and very pleased you taught me I’m wrong, this seems a more fair system.

Not thankful for the downvoters although they probably thought I was cynical or something… but hey better have knowledge than points.

Re: JP Morgan fined by SEC for deleting email records

#83

Post by chollida1 »

danuker wrote: post #40
ranting-moth wrote: post #16

IANAL but in many countries the judge might draw adverse inference and effectively assume what was in that evidence. That wouldn't be in the deleters interest. https://en.m.wikipedia.org/wiki/Adverse_inference

The SEC is not in the justice business. It is a puppet of the banks themselves. A $4M fine is NOTHING for a company netting $12.62B a QUARTER.

> It is a puppet of the banks themselves.

This is ofcourse false. But given how little effort you made on this comment i assume nothing will change your mind:(

https://www.nytimes.com/2022/09/27/business/banks-fined-text...

https://www.sec.gov/news/press-release/2022-174

https://www.sec.gov/news/press-release/2022-206

Re: JP Morgan fined by SEC for deleting email records

#87

Post by andsoitis »

sensanaty wrote: post #46

If it weren't so depressing it'd be incredibly hilarious how blatant and open the corruption here is, as if anyone on planet earth is gonna buy this BS story. The fines for these types of accidents should be starting with the letter B and ending with illions, lets see how often these types of mistakes happen in the future afterwards.

Do you really think JP Morgan, which has about 300,000 employees, has a secret network of corrupt actors at an administrative level to carry out something like this on purpose without someone blowing the whistle?

I think this is more likely: https://www.sec.gov/news/press-release/2021-262

Re: JP Morgan fined by SEC for deleting email records

#89

Post by hinata08 »

sensanaty wrote: post #46

If it weren't so depressing it'd be incredibly hilarious how blatant and open the corruption here is, as if anyone on planet earth is gonna buy this BS story. The fines for these types of accidents should be starting with the letter B and ending with illions, lets see how often these types of mistakes happen in the future afterwards.

Why fines ?

Fines for this type of accident should be the permanent removal of the banking license.

What kind of company can you trust if evidence can be deleted "by accident" ?

Re: JP Morgan fined by SEC for deleting email records

#90

Post by mulletbum »

andsoitis wrote: post #87
sensanaty wrote: post #46

If it weren't so depressing it'd be incredibly hilarious how blatant and open the corruption here is, as if anyone on planet earth is gonna buy this BS story. The fines for these types of accidents should be starting with the letter B and ending with illions, lets see how often these types of mistakes happen in the future afterwards.

Do you really think JP Morgan, which has about 300,000 employees, has a secret network of corrupt actors at an administrative level to carry out something like this on purpose without someone blowing the whistle? I think this is more likely: https://www.sec.gov/news/press-release/2021-262

As someone who does this work, I agree. This sounds like a IT Operations messed something up on its way to the people who do the lawyer work. Never had it happen to us, but I could see me handing something off to others in the Operations Org and having accidents happen.
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