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Will JPMorgan Chase face additional SEC fines for misleading disclosures by end of 2024?
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Resolution / Starting Odds
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SEC announcements and press releases
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JPMorgan Chase to Pay $151 Million to Settle SEC Actions Over Misleading Disclosures
Oct 31, 2024, 09:07 PM
JPMorgan Chase has agreed to a $100 million settlement with the SEC over misleading disclosures related to its 'conduit' products, which pooled customer money for investments in private equity or hedge funds. The settlement includes a $10 million civil penalty. Additionally, JPMorgan will pay a $1 million civil fine for prohibited principal trades, a $5 million civil fine for transactions during the early weeks of the COVID-19 pandemic, and $45 million for disclosure violations related to its portfolio manager program. The bank has also paid $15.9 million in remediation to customers advised to buy certain mutual funds when less expensive ETF products were available. In total, JPMorgan affiliates will pay $151 million to resolve SEC actions.
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Similar markets
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Disclosure issues • 25%
Trading practices • 25%
Compliance failures • 25%
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No violations found • 25%
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Investigation inconclusive • 25%
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