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:
34-93807
Document Details
Legal Case Name
Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Name
In the Matter of J.P. Morgan Securities LLC
Document Date
17-Dec-2021
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Compliance Related Independent Consultant
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$125,000,000.00
Shared: