JPMorgan warns of another potential regulatory fine tied to weak ‘internal controls’ at bank

JPMorgan warns of another potential regulatory fine tied to weak ‘internal controls’ at bank

JPMorgan signage on the door of an office building in New York.

Scott Mlyn | CNBC

JPMorgan Chase said that just weeks after paying a record penalty it is facing another potential fine, this time over internal controls in wealth management and other areas.

The bank disclosed the impending action late Monday in a filing, saying that one of its regulators told the New York-based company that it faced action "related to historical deficiencies in internal controls and internal audit over certain advisory and other activities."

JPMorgan, the biggest U.S. bank by assets, said that it had already improved its controls tied to the proposed penalty and is in ongoing discussions with the regulator, which it did not name. The firm's asset and wealth management business is one of its four main divisions