JP Morgan Securities, LLC agreed to pay a fine of US $1.25 million to the Financial Industry Regulatory Authority to resolve charges that, from January 1, 2009, through May 2017, the firm failed to conduct “timely or adequate” background checks on most of its non-registered associated persons, as required under SEC rule and other provisions. (Click here to access SEC Rule 17f-2.) As a result, said FINRA, during the relevant time, at least found persons who were subject to statutory disqualification were permitted to work for the firm. FINRA claimed that JPMS’s alleged breakdown occurred because its “policies and procedures for fingerprinting focused on individuals who were, or intended to become, registered” as opposed to all employees.