Defendant Name:
J.P. Morgan Securities LLC
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
JPMorgan Chase & Co.
SIC Code:
6712
CUSIP:
46625H10
Document Reference:
34-61734
Document Details
Legal Case Name
Report of Investigation: JP Morgan Securities, Inc.
Document Name
Report of Investigation Pursuant to Section 21(a) of the Securities Exchange Act of 1934: JP Morgan Securities, Inc.
Document Date
18-Mar-2010
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On March 18, 2010, the SEC issued a Report of Investigation regarding J.P. Morgan Securities, Inc. According to the SEC: "The Division of Enforcement has investigated whether JP Morgan Securities Inc. ('JPMSI'), a broker-dealer registered with the Commission, violated MSRB Rule G-37 ('Rule G-37'). Rule G-37 prohibits a broker, dealer or municipal securities dealer from, among other things, underwriting municipal bonds for an issuer within two years after the broker, dealer or municipal securities dealer or one of its municipal finance professionals ('MFPs') makes a political contribution to an official of that issuer. JPMSI underwrote municipal bonds issued by the state of California within two years after the Vice Chairman of JPMSI's parent bank holding company, JP Morgan Chase & Co., Inc. ('JP Morgan Chase' or 'the Company'), who also led JP Morgan Chase's investment banking business, gave a $1,000 contribution to the Treasurer of the State of California ('California Treasurer'). Although the Vice Chairman of JP Morgan Chase was not a director, officer or employee of JPMSI, he nevertheless was an MFP associated with JPMSI because he functionally supervised JPMSI and served on the executive committee that oversaw JPMSI."
Disgorgement & Penalty Information
Resolutions
Report of Investigation
