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Former Chase banker fined for sharing OCC non-public information

Columbus, OH
10/28/2019
Fine Amount: 
$35,000
Penalty Type: 
Issued by: 

Roseann McSorley, formerly a managing director and chief administrative officer of oversight and controls at JPMorgan Chase Bank, N.A., has been issued a consent order to pay a $35,000 civil money penalty on the basis of her activities while serving in her former capacity at that bank.

The Comptroller found, and McSorley neither admits nor denies, that:

  • from approximately November 2009 until October 2016, the bank provided her with access to documents containing “non-public OCC information,” as that term is defined in 12 C.F.R. § 4.32(b).
  • Upon her departure from the Bank in 2016, McSorley retained bank documents, two of which contained non-public OCC information.
  • McSorley’s retention of the documents containing non-public OCC information violated 12 C.F.R. § 4.36(d).
  • Soon after leaving the Bank, McSorley was employed by another financial institution. There, McSorley disclosed the documents containing non-public OCC information to one or more employees during meetings or discussions and shared them via text message. Her disclosure of the documents containing non-public OCC
    information without prior written permission of the OCC violated 12 C.F.R. § 4.36(d).
  • McSorley was questioned on two separate occasions by the financial institution’s investigators. In each instance, she denied being in possession of bank documents and/or documents containing non-public OCC information. After the bank was notified about the retention and disclosure, the bank made an effort to retrieve the bank documents from McSorley. McSorley initially failed to respond to the bank’s requests to return the bank documents but later returned the documents.

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