JPMorgan has said that it will pay civil penalties of around $350 million in its native USA over failing to report complete trading data to surveillance platforms.

The announcement was made in a regulatory filing, in which the US bank admitted that certain trading and order data through its Corporate and Investment Bank unit was not fed into its trade surveillance platforms – a regulatory requirement.

In the filing, the bank said: "While the identified gaps represent a fraction of the overall activity across the Corporate and Investment Bank (CIB), the data gap on one venue, which largely consisted of sponsored client access activity, was significant.”

It added that it had "not identified any employee misconduct, harm to clients or the market."

The penalties are expected to resolve the matter with two US regulators, though JPMorgan did not say which agencies were involved. It added that it was in ‘advanced negotiations’ with a third, though this may not result in a resolution.

JPMorgan earlier this month announced plans to open 500 new branches and renovate around 1,700 existing US locations over the next three years as part of a multi-billion dollar investment.

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