SEC Launches Inquiring into JPMorgan’s Fund Sales

Posted on May 21st, 2015 at 9:45 AM
SEC Launches Inquiring into JPMorgan’s Fund Sales

From the Desk of Jim Eccleston at Eccleston Law LLC:

JP Morgan Chase & Co. is under investigation by the SEC and other regulators regarding the manner in which it sells its own mutual funds and other proprietary products.

The SEC's enforcement division has been looking into whether the bank and its brokerage affiliate adopted a strategy that uses bonuses and other incentives to encourage their financial advisors to steer clients into in-house funds, structured notes and other investments that generate larger fees for the bank.

The probe includes a review of pensions and other accounts that hold the bank to a so-called fiduciary standard, which obligates JP Morgan to put clients' financial interests ahead of its own. 

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.

Related Attorneys: James J. Eccleston

Tags: JP Morgan Chase, SEC, James Eccleston, Eccleston Law, Bloomberg Business

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