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:
33-11324
Document Details
Legal Case Name
In the Matter of J.P. Morgan Securities LLC
Document Name
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Sections 15(b)(4) and 21C of the Securities Exchange Act of 1934, and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
Document Date
31-Oct-2024
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
On October 31, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against J.P. Morgan Securities LLC, stating: "These proceedings arise from misleading disclosures that JP Morgan Securities used with brokerage customers investing in its "Conduit" products, which pooled customer money and invested in private equity or hedge funds that customers might not be able to access directly."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Remedial Acts or Efforts Before the Resolution
Self Reporting to SEC
Fair Funds
Monetary Penalties:
Civil Penalty
Individual:
$10,000,000.00
Shared: