J.P Morgan Fined by SFC Hong Kong
The Securities and Futures Commission (SFC) has fined J.P Morgan Securities and J.P Morgan Chase Bank $3 million and $2.6 million respectively for regulatory breaches including disclosure failures in research reports and offering offshore listed index options without required licences.
J.P Morgan has since taken measures to rectify the problems in its securities position reporting system and stopped providing offshore listed index options.
News Source: SFC HK Press Release
About JP Morgan
JPMorgan Chase (NYSE: JPM) is one of the oldest financial institutions in the United States. It is built on the foundation of more than 1200 predecessor institutions. J.P. Morgan clients include the world’s most prominent corporations, governments, wealthy individuals and institutional investors. While, the U.S. consumer and commercial banking businesses serve customers under the Chase brand.
- Origin : NYC, New York, USA
- Assets : USD 2.4 trillion
- Revenue : USD 93.54 billion
- Employees : 235,000
Official Website: www.jpmorganchase.com
News & Media: Press Release
Updated on 8th August 2016