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J.P. Morgan Securities to pay $18M for alleged whistleblower rule violation (NYSE:JPM) - Seeking Alpha

by Liz Kiesche
Tue, Jan 16, 2024 09:04 ET
in Employment News, Press Release

  • J.P. Morgan Securities LLC, a unit of JPMorgan Chase (NYSE:JPM), agreed to pay $18M to resolve a Securities and Exchange Commission investigation that found the firm impeded hundreds of advisory clients and brokerage customers from reporting potential securities violations to the SEC, the regulator said on Tuesday.
  • According to the SEC, JPMS regularly asked clients to sign confidential release agreements if they had been issued a credit or settlement from the firm of more than $1,000. The agreements required the clients to keep confidential the settlement and all facts relating to it. The agreements allowed clients to respond to SEC inquiries but didn't permit clients to voluntarily contact the SEC.
  • J.P. Morgan Securities LLC didn't admit or deny wrongdoing. It did agree to be censured, to cease and desist from violating whistleblower protection rules, and to pay the $18M civil penalty.


Read Full Story: https://news.google.com/rss/articles/CBMibmh0dHBzOi8vc2Vla2luZ2FscGhhLmNvbS9u...


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