FINRA dings JPMorgan Securities $190K over registration, supervision failures
By 
Jeff Dale2024-09-12T15:11:00
The Financial Industry Regulatory Authority fined JPMorgan Securities $190,000 for unregistered investment banking activities and not having a supervisory system reasonably designed to achieve compliance with FINRA registration requirements.
The firm permitted 10 individuals in its U.S. Investment and Corporate Banking Group (ICB) to perform investment banking activities without required registration with FINRA, the self-regulatory agency said in a disciplinary action Monday.
From October 2020 through January 2022, the unregistered persons worked as part of investment banking deal teams and engaged in activities requiring registration, such as “advising clients on securities offerings or drafting marketing materials for offerings,” FINRA said.
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