J.P. Morgan Securities LLC has agreed to pay a fine of $190,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From October 2020 through January 2022, the firm permitted 10 individuals in the firm’s U.S. Investment and Corporate Banking Group (ICB) to perform investment banking activities requiring registration during periods when they were not registered with FINRA. As a result, the firm violated FINRA Rules 1210 and 2010.
During the same period, the firm’s supervisory system was not reasonably designed to achieve compliance with FINRA registration requirements. As a result, the firm violated FINRA Rules 3110(a) and 2010.
On top of the $190,000 fine, the respondent has agreed to a censure.
