JP Morgan Clearing Corp. agreed to pay a fine of US $17,500 to the National Futures Association for failing to instruct its depository—JP Morgan Bank N.A.—to report multiple newly opened customer segregated funds accounts to it as required under NFA rules. NFA detected this oversight during two reviews in January and November 2014. At all times, said NFA, JP Morgan Clearing had sufficient excess segregated funds to meet its customer obligations. Similarly, UBS Financial Services, Inc. agreed to pay an identical fine after it withdrew more than 25 percent of its target residual amount in its customer secured protected funds on two occasions—October 7 and 24, 2014—without obtaining pre-approval of a financial principal and submitting such approval to NFA prior to transferring the funds. NFA said this was also a violation of its rules. The firm maintained in excess of its minimum customer secured amount funds requirements at all times.