Defendant Name: J.P. Morgan Investment Management Inc.

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 Investment Management Inc.
First Document Date 31-Oct-2024
Initial Filing Format Administrative Action
File Number 3-22282
Allegation Type Investment Advisers/Investment Companies

Violations Alleged

Other
• Sections 206(3), 206(4) Advisers Act; Rule 206(4)-7 Advisers Act

Related Violations Alleged

J.P. Morgan Investment Management Inc. is alleged to have caused J.P. Morgan Securities LLC's violation of Section 17(a)(1) Investment Company Act .
J.P. Morgan Investment Management Inc. is alleged to have caused No Specified Entity's violation of Rule 38a-1 Investment Company Act .

Resolutions

First Resolution Date 31-Oct-2024
Headline Total Penalty and Disgorgement $1,000,000

Related Documents:

IA-6761 31-Oct-2024 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 203(e) and 203(k) of the Investment Advisers Act of 1940 and Section 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On October 31, 2024, the SEC instituted settled administrative and cease-and-desist proceedings, stating: "From July 2019 until March 2021 (“Relevant Period”), JP Morgan IM, a registered investment adviser, engaged in or caused 65 prohibited principal trades with a combined notional value of approximately $8.2 billion and which included approximately $22,000 in spreads."
2024-178_3-22282 31-Oct-2024 Press Release--Administrative Proceeding
JP Morgan Affiliates to Pay $151 Million to Resolve SEC Enforcement Actions
The SEC stated: "between July 2019 and March 2021, JPMIM engaged in or caused 65 prohibited principal trades with a combined notional value of approximately $8.2 billion. Principal trades are generally prohibited to avoid undisclosed conflicts of interest unless certain conditions are met or the SEC provides exemptive relief."