British regulators fined JPMorgan Chase £3.1 million ($4.7 million) on Thursday for failings in its wealth management division.
The Financial Conduct Authority of Britain said that the unit's senior management had failed to provide clients adequate advice and carried out poor recording-keeping related to individuals' investments between 2010 and 2012.
The problems included not keeping client files up to date and failure to notify customers of the suitability of the financial products.
"No matter who they are, customers of wealth managers should be able to expect the firm to keep complete, up-to-date client records so that they can give the right advice," Tracey McDermott, the Financial Conduct Authority's director of enforcement and financial crime, said in a statement.
The British regulator said that the poor record-keeping had not materially affected any JPMorgan client. The bank received a 30 percent discount for settling with authorities. The fine would have been £4.4 million without the discount.
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The new fine is the latest in a series of regulatory problems for JPMorgan.
The United States Federal Energy Regulatory Commission, for example, is investigating allegations that the bank misrepresented energy prices in a number of states. In total, at least eight federal agencies are investigating JPMorgan, including the Commodity Futures Trading Commission and the Securities and Exchange Commission.