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 J.P. Morgan Securities LLC
First Document Date 17-Dec-2021
Initial Filing Format Administrative Action
File Number 3-20681
Allegation Type Broker Dealer

Violations Alleged

Other
• Failure to supervise under Section 15(b)(4)(E) Exchange Act

Resolutions

First Resolution Date 17-Dec-2021

Related Documents:

34-93807 17-Dec-2021 Administrative Proceeding
In the Matter of J.P. Morgan Securities LLC
On December 17, 2021, the SEC instituted settled cease-and-desist proceedings against J.P. Morgan Securities LLC stating: "The federal securities laws impose recordkeeping requirements on broker-dealers to ensure that they responsibly discharge their crucial role in our markets . . . These proceedings arise out of the widespread and longstanding failure of JPMorgan employees throughout the firm, including those at senior levels, to adhere to certain of these essential requirements. These employees communicated both internally and externally via personal text messages, WhatsApp messages, and emails on their personal devices."
2021-262 17-Dec-2021 Press Release--Administrative Proceeding
JPMorgan Admits to Widespread Recordkeeping Failures and Agrees to Pay $125 Million Penalty to Resolve SEC Charges
The SEC "announced charges against J.P. Morgan Securities LLC (JPMS), a broker-dealer subsidiary of JPMorgan Chase & Co., for widespread and longstanding failures by the firm and its employees to maintain and preserve written communications. JPMS admitted the facts set forth in the SEC’s order and acknowledged that its conduct violated the federal securities laws, and agreed to pay a $125 million penalty and implement robust improvements to its compliance policies and procedures to settle the matter."