Eccleston Law: For Investors. For Advisors
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
Broker Transition
Transition Negotiations
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Negotiations
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
Securities Fraud
Breach of Fiduciary Duty
Negligent Investment Management
Unauthorized Trading
Lawyer Referral Network
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact
Site Menu
About
Who We Are
Testimonials
Disclaimers
Attorneys
For Advisors
For Advisors: Overview
Broker Transition
Broker Transition Overview
Transition Negotiations
Employment Matters
State Registration Problems & Discipline
FINRA Matters
Promissory Note Matters
Team/Parnership Disputes
CFP Board Matters
FINRA Enforcement Matters
State Registration Problems & Discipline
Transition Negotiations
Broker Litigation & Arbitration
Employment Matters
Regulatory Matters
Strategic Consulting
Whistleblower Law
Promissory Note Matters
Compliance Protection
Lawyer Referral Network
Expungement of CRD/BrokerCheck Disclosures
For Investors
For Investors: Overview
Securities Fraud
Breach of Fiduciary Duty
Negligent Investment Management
Unauthorized Trading
Lawyer Referral Network
News & Articles
News
Articles
Financial Counsel Blog
Videos
Newsletter Signup
Contact

JP Morgan Faces Further Investigation into Conflicts of Interest

Posted on March 24th, 2016 at 4:29 PM
JP Morgan Faces Further Investigation into Conflicts of Interest

From the Desk of Jim Eccleston at Eccleston Law LLC:

JP Morgan Chase and Co. continues to face investigations by the SEC and the U.S. Commodity Futures Trading Commission surrounding conflicts of interest in the way it sold its own investment products. According to a regulatory filing, the firm is cooperating with a government inquiry concerning the disclosure of conflicts of interest associated with the firm’s proprietary products.

            Additionally, Indiana securities regulators have opened an investigation. The regulators are looking into how JP Morgan handled the trusts that benefitted multiple churches in the state. Last August, the bank settled a similar case in which it was accused of putting its interests ahead of a historic church in Indiana and mismanaging its trusts.

            In December, the bank paid more than $300 million in order to resolve allegations that it failed to disclose the benefit that it received from selling its own investment products. The firm reaped profits through fees generated by placing customers’ money into mutual funds and hedge funds.

From 2008 to 2013, JP Morgan admitted that two of its units that manage money – its securities subsidiary and its nationally chartered bank – failed to disclose those benefits that resulted in a conflict of interest. The firm asserts that the communication failures were unintentional and that it has since increased measures to prevent the failures in the future. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston, JP Morgan Chase and Co., SEC

Share

Return to Archive

Latest Articles
Purshe Kaplan to Pay $1.6 Million Settlement
April 14th, 2021 at 10:06 AM
Cambridge to Pay $3.5 Million In Restitution To Settle FINRA Mutual Fund Case
April 13th, 2021 at 9:22 AM
Read More »
Latest News
Just Saying “No” to Firm-Provided and Conflicted Legal Counsel in Your Transition may avoid problems later
April 14th, 2021 at 3:55 PM
Affidavit of Merit Received in Eccleston Law’s $25 Million Legal Malpractice Action
April 1st, 2021 at 9:36 AM
Read More »
Share

Request a Free Consultation

Attorneys are standing by during regular business hours. Call us now for immediate service, or complete the form below and we will contact you as soon as possible.

Your E-mail Address:
 
Chicago
55 West Monroe St.
Suite 610
Chicago, Illinois 60603
(312) 332-0000
(312) 332-0003
New York City
One Liberty Plaza
165 Broadway, 23rd Floor
New York, New York 10006
(312) 332-0000
(312) 332-0003
Boca Raton
2255 Glades Road
Suite 324A
Boca Raton, Florida 33431
(312) 332-0000
(312) 332-0003
2021 © Eccleston Law, LLC.
All Rights Reserved.
The law is continuously changing. Please do not rely on information found on this site without consulting a lawyer to determine if any recent changes in the law may have an impact.