Defendant Name: J.P. Morgan Securities LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: JPMorgan Chase & Co.
SIC Code: 6021
CUSIP: 46625H10

Initial Case Details

Legal Case Name SEC v. J.P. Morgan Securities Inc.
First Document Date 28-Apr-2003
Initial Filing Format Civil Proceeding
Case Number 03-cv-02939
Allegation Type Investment Advisers/Investment Companies
Federal District Court New York, Southern District of New York

Violations Alleged

Other
• Rules 2110, 2210(d)(1)(A), 3010 NASD Conduct; Rules 401, 476(a)(6), 342 NYSE

Resolutions

First Resolution Date 28-Apr-2003
Headline Total Penalty and Disgorgement $80,000,000

Related Documents:

comp18114 28-Apr-2003 Complaint
Complaint
According to the SEC: "Defendant engaged in acts and practices that created and/or maintained inappropriate influence by investment banking over research analysts, thereby creating conflicts of interest for its research analysts. Defendant failed to manage these conflicts in an adequate manner. During the relevant period, Defendant encouraged its research analysts to participate in investment banking activities, and used this participation as a factor to evaluate analysts and determine their compensation. The Research Department of Defendant coordinated the decision to initiate and maintain research coverage on certain companies with Defendant's Investment Banking Department, and coverage decisions were influenced by investment banking interests."
LR-18114 28-Apr-2003 Litigation Release
SEC Sues J.P. Morgan for Research Analyst Conflicts of Interest; Firm to Settle with SEC, NASD, NYSE, NY Attorney General, and State Regulators
judg18114 28-Apr-2003 Court Docket Document
Final Judgment as to Defendant J.P. Morgan Securities Inc.
LR-21457 19-Mar-2010 Litigation Release
Court Approves Modifications to Global Research Analyst Settlement
On March 19, 2010, the SEC published a litigation release announcing that the Honorable William H. Pauley issued an order approving modifications to the final judgments entered against J.P. Morgan Securities Inc. and the other firms covered by the Global Research Analyst Settlement.