A U.S. regulatory probe of JP Morgan Chase & Co is expected to result in an order that the bank correct lapses in how it polices suspect money flows, in an action expected as soon as Friday, Jan 11 people familiar with the situation said.

The action would be in the form of a cease-and-desist order, which regulators use to force banks to improve compliance weaknesses, the sources said.

The order is expected to be issued by the Office of the Comptroller of the Currency and the Federal Reserve.

JP Morgan is not expected to pay a monetary penalty, according to one person familiar with the situation.

The Treasury Department's anti money-laundering unit, the Financial Crimes Enforcement Network, also could take a separate action against the bank.

A JP Morgan spokeswoman declined comment.

The status of the inquiry could change and the timing of the action could extend to next week or later.

The JP Morgan inquiry dates back several months, according to people familiar with the probe. Under the order, the bank is expected to be required to bolster systems it uses to monitor risk and transactions, CNN reported.