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JP Morgan Affiliate's $151M SEC Lesson in Playing by the Rules
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Subscribe05 NOV 2024 / SEC UPDATES
J.P. Morgan Securities LLC (JPMS) and J.P. Morgan Investment Management Inc. (JPMIM), affiliates of JP Morgan, face five separate SEC enforcement actions for violations including misleading disclosures, breach of fiduciary duty, and prohibited transactions which run against their clients' best interests. The allegations have led to significant penalties and reparations, including a $90 million voluntary payment to brokerage customers, a $45 million fine for conflicts of interest, a voluntary reimbursement of approximately $15.2 million to impacted customers for recommending higher-cost funds, and $6 million civil penalties for prohibited transactions by JPMIM.
In a move that’s raising eyebrows across Wall Street, JP Morgan affiliates J.P. Morgan Securities LLC (JPMS) and J.P. Morgan Investment Management Inc. (JPMIM) face charges in five separate SEC enforcement actions. The allegations? Misleading disclosures,...
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