JPMorgan had received subpoenas and document requests in at least 12 civil securities regulatory investigations for emails that were deleted.
Others "could relate to potential future investigations, legal matters and regulatory inquiries," the order said.
This is the third time the investment advisor has agreed to punishment for failing to preserve electronic records. Those messages included old emails, instant messages and communications sent over the Bloomberg terminal service. Those employees "erroneously" believed — based on claims by the firm's archiving vendor — that all of those documents were coded in a way to prevent the permanent deletion of those records that were required by law to be kept for three years, the order said.
Those deletions were discovered in October 2019, when a JPMorgan team responsible for producing records related to legal cases detected that emails were missing from early 2018, the order said.
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