Friday☕️

Mar 15, 2024 • 5 min read

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CENTCOM Activity:

From the morning of March 14 to the early hours of March 15, Sanaa time, Houthi forces in Yemen, launched two anti-ship ballistic missiles (ASBMs) towards the Gulf of Aden and another two ASBMs at the Red Sea. Fortunately, these missile launches did not result in any harm or damage to U.S. or coalition naval forces. In a proactive defense, the United States Central Command neutralized nine anti-ship missiles and two unmanned aerial vehicles within territories controlled by the Houthis in Yemen, identifying them as immediate threats to both merchant and U.S. Navy ships.
These measures were enacted to ensure the safety of navigation in international waters, reinforcing security for naval and commercial shipping operations. On the same day, March 14, 2024, a humanitarian mission was carried out by the U.S. Central Command in collaboration with the Royal Jordanian Air Force, delivering critical aid to the civilian population in Northern Gaza at 11:57 a.m. Gaza time. This operation saw the drop of 13,900 meals from a U.S. Air Force C-130, assisted by Jordanian contributions, aiming to provide vital support amidst the conflict. This airdrop is part of an ongoing series of U.S. and allied efforts to mitigate human suffering through continuous humanitarian assistance, with further missions planned to sustain this support.

JPMorgan Fine:

JPMorgan Chase (JPM) has agreed to pay fines totaling $348 million to U.S. regulatory authorities for not adequately supervising its clients' and employees' trading activities, marking one of the highest penalties of this nature for a banking institution in 2024. The penalties were handed down in separate directives by the Federal Reserve and the Office of the Comptroller of the Currency (OCC) on Thursday.
The OCC criticized JPMorgan for engaging in practices considered unsafe or unsound and for not implementing sufficient governance over the trading platforms it participates in. Meanwhile, the Federal Reserve highlighted the bank's oversight failures, pointing out its inability to monitor billions of trading activities across at least 30 global trading venues from 2014 to 2023. Both regulators have demanded various corrective actions from the bank.
In a recent Securities and Exchange Commission (SEC) filing, JPMorgan had already mentioned these issues, stating that it found no employee wrongdoing, client harm, or market disruption, and anticipated no impact on client services, a stance reaffirmed by a spokesperson on Thursday. Additionally, JPMorgan indicated last month that it was nearing the end of discussions with another U.S. regulatory body, although the outcome of these talks remained uncertain. This series of fines stands out as one of the significant financial penalties imposed on a major bank this year.

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