Defendant Name:
J.P. Morgan Securities LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
JPMorgan Chase & Co.
SIC Code:
6021
CUSIP:
46625H10
Document Reference:
comp18114
Document Details
Legal Case Name
SEC v. J.P. Morgan Securities Inc.
Document Name
Complaint
Document Date
28-Apr-2003
Document Format
Civil Proceeding
Case Number
03-cv-02939
Federal District Court
New York, Southern District of New York
Allegation Type
Investment Advisers/Investment Companies
Document Summary
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."
