Defendant Name: J.P. Morgan Investment Management Inc.

Defendant Type: Subsidiary of Public Company
Public Company Parent: JPMorgan Chase & Co.
SIC Code: 6021
CUSIP: 46625H10

Document Reference: IC-35373

Document Details

Legal Case Name In the Matter of J.P. Morgan Investment Management Inc.
Document Name Order Instituting Cease-and-Desist Proceedings, Pursuant to Section 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing a Cease-and-Desist Order
Document Date 31-Oct-2024
Document Format Administrative Proceeding
File Number 3-22281
Allegation Type Investment Advisers/Investment Companies
Document Summary On October 31, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against J.P. Morgan Securities LLC, stating: "In March 2020, JP Morgan IM, a registered investment adviser to three U.S. money market mutual funds ("Domestic Funds") and the delegated portfolio manager of an affiliated foreign money market fund ("Foreign Fund"), caused prohibited joint transactions involving these funds that advantaged the Foreign Fund over the Domestic Funds."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $5,000,000.00 Shared:    

Related Documents:

2024-178_3-22281 31-Oct-2024 Press Release--Administrative Proceeding
JP Morgan Affiliates to Pay $151 Million to Resolve SEC Enforcement Actions
The SEC stated: "in March 2020, JPMIM caused $4.3 billion in prohibited joint transactions, which advantaged an affiliated foreign money market fund for which it served as the delegated portfolio manager over three U.S. money market mutual funds it advised."