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by plebianRube 1661 days ago
Why would I look at just their trading revenue?

The fine was levied against the entire company, not just their trading subsidiary.

>settling charges against JPMorgan Chase & Company (JPMC & Co.) and its subsidiaries, JPMorgan Chase Bank, N.A., and J.P. Morgan Securities LLC (JPMS) (collectively, JPM)
2 comments
gruez 1661 days ago
> Why would I look at just their trading revenue?

Why should you? Suppose you did a bad. Let's it was a side hustle where you took refurbished ipads and resold them as brand-new ipads. Over the past year you made $2000 in profit from doing so. The cops caught you doing it and fined you $10k. That sounds like a pretty serious penalty. However, you're also a bay area software engineer making $400k total comp, so $10k is a drop in the bucket. Should they fine you $200k instead, just because you happen to be a software engineer?

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__del__ 1659 days ago
> Should they fine you $200k instead

Yes, the fines should be punitive, not proportional to the damage.

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swsieber 1661 days ago
Because if these are trading actions that lead to these fines then a rational actor might decide against taking then in the future lest trading become a net negative.
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