J.P. Morgan Units To Pay $307M In Penalties For Securities Law Violations

Mealey's (December 21, 2015, 9:43 AM EST) -- WASHINGTON, D.C. — Two J.P. Morgan Chase & Co. wealth management subsidiaries will pay a combined $307 million to settle claims with federal agencies that they steered client investments into their own investment products in an attempt to secure higher fees, the Securities and Exchange Commission announced in a Dec. 18 press release (In the Matter of JPMorgan Chase Bank N.A. and J.P. Morgan Securities LLC, No. 3-17008, SEC).

According to the press release, under the terms of the settlement with the SEC, J.P. Morgan investment...
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