6. In August 2014, one of the new managers brought in to the newly created JPMorgan Chase compliance office in Delaware advised his JPMorgan Chase & Co. (NYSE:JPM) compliance team that it was unnecessary to file a SAR on the first identified instance of structuring. In lieu of the issuance of a SAR, the manager stated that a warning letter from JPMorgan Chase should be sent to the client/customer who carried out the suspicious structuring activity. (Source Comment: Structuring to avoid filing a currency transaction report (CTR) is a primary violation of the BSA.