J.P. Morgan Securities, a subsidiary of JPMorgan Chase & Co., agreed to pay $125 million in a settlement with the U.S. Securities and Exchange Commission over alleged recordkeeping failures. According to the SEC’s order, employees communicated about business matters on personal devices, including text messages and personal emails, from January 2018 to November 2020 and these records were not preserved as required under law. The firm will also implement “robust improvements to its compliance policies and procedures.”