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 In the Matter of JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC
First Document Date 18-Dec-2015
Initial Filing Format Administrative Action
File Number 3-17008
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 206(2), 206(4), 207 Investment Advisers Act; Rule 206(4)-7 Investment Advisers Act

Resolutions

First Resolution Date 18-Dec-2015
Headline Total Penalty and Disgorgement $266,815,000

Related Documents:

2015-283 18-Dec-2015 Press Release--Administrative Proceeding
J.P. Morgan to Pay $267 Million for Disclosure Failures
On December 18, 2015, the SEC announced that "two J.P. Morgan wealth management subsidiaries have agreed to pay $267 million and admit wrongdoing to settle charges that they failed to disclose conflicts of interest to clients."
33-9992 18-Dec-2015 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On December 18, 2015, the SEC instituted settled administrative and cease-and-desist proceedings against JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC. According to the SEC: "This matter concerns the negligent failure of JPMorgan Chase & Co.'s ('JPMorgan's') wealth management businesses, JPMorgan Chase Bank, N.A. ('JPMCB') and J.P. Morgan Securities LLC ('JPMS'), to disclose conflicts of interest arising from, as applicable, preferences for (i) JPMorgan-managed mutual funds ('Proprietary Mutual Funds'), (ii) JPMorgan-managed private hedge funds ('Proprietary Hedge Funds,' and, together with Proprietary Mutual Funds, 'Proprietary Funds'), and (iii) third-party-managed private hedge funds that shared client fees with a JPMCB affiliate."

Other Defendants in Action:

JPMorgan Chase Bank, N.A.