Defendant Name:
J.P. Morgan Securities LLC
Defendant Type:
Subsidiary of Public Company
Document Reference:
2016-1
Document Details
Legal Case Name
In the Matter of J.P. Morgan Securities LLC
Document Name
SEC: J.P. Morgan Misled Customers on Broker Compensation
Document Date
06-Jan-2016
Document Format
Administrative Proceeding
Allegation Type
Investment Advisers/Investment Companies
Document Summary
On January 6, 2016, the SEC announced that: "J.P. Morgan's brokerage business agreed to pay $4 million to settle charges that it falsely stated on its private banking website and in marketing materials that advisors are compensated 'based on our clients' performance; no one is paid on commission."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured