JPMorgan Chase has been fined $348.2 million by a pair of U.S. banking regulators for its insufficient program to monitor the trading activities of businesses and clients, which constitutes "improper market conduct," as announced by the Federal Reserve on Thursday.

The Fed, in collaboration with the Office of the Comptroller of the Currency, imposed the fine on the bank, noting that the offense was identified during the period between 2014 and 2023.

In February, JPMorgan revealed it was expected to pay approximately $350 million in civil penalties for reporting incomplete transaction data to monitoring platforms. At that time, the bank also mentioned it was in "advanced negotiations" with a third regulatory authority, which might not result in a settlement.