SEC Awards Two JPMorgan Chase Whistleblowers $50 Million

Posted on April 2nd, 2019 at 5:19 PM
SEC Awards Two JPMorgan Chase Whistleblowers $50 Million

From the Desk of Jim Eccleston at Eccleston Law LLC:

The SEC announced that it has awarded two whistleblowers a total of $50 million. The SEC received $267 million stemming from a settlement with JPMorgan Chase & Co.

The whistleblowers alerted the SEC that from 2008 to 2013, JPMorgan Chase failed to inform certain wealthy clients of conflicts of interest in managing their money.

The SEC’s whistleblower program has been an important tool since its inception in 2011. The award distributions are made from an investor protection fund established by Congress. The standard to obtain an award requires that the whistleblower’s information must be unique, useful and lead to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected by the SEC where sanctions exceed $1 million.  

Eccleston Law, LLC helps individuals file and document their SEC whistleblower claims while maintaining confidentiality. Please contact us for further information.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. 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. 

Tags: james eccleston, eccleston law, eccleston law llc, eccleston, jp morgan chase, sec, whistleblower

Return to Archive

TESTIMONIALS

Previous
Next

As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. He is a fantastic lawyer and trusted advisor. He is skilled in the matters necessary to do the job well. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. If you want to feel confident that nothing will be missed and that you will be represented in a highly professional manner, call Jim Eccleston.

Bill C. and Dan M.

LATEST NEWS AND ARTICLES

April 24, 2024
RIA Insurance Claims Skyrocket

A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.

April 23, 2024
Surge Predicted in Regulation Best Interest Cases

According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.

April 22, 2024
FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses

The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.