Singapore’s central bank said Monday it was fined JPMorgan Chase’s (NYSE:JPM) 2.4M Singapore dollars ($1.79M) for failing to detect and prevent misconduct by its relationship managers.  The Monetary Authority of Singapore (MAS) said in a statement that the relationship managers “had made inaccurate or incomplete disclosures to clients,

Singapore fined JPMorgan Chase & Co. S$2.4 million ($1.8 million) for failing to prevent and detect misconduct by its relationship managers over client bond trades.

Singapore's central bank said on Monday it fined U.S. lender JPMorgan Chase S$2.4 million ($1.79 million) for failing to prevent and detect misconduct committed by its 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,

This enforcement action follows MAS's review of pricing and disclosure practices in the private banking sector.

Singapores central bank penalized JPMorgan Chase $1.8 million after its relationship managers overcharged clients in bond transactions, exposing critical lapses in controls. The fine underscores the importance