Friday, February 13, 2015

SEC Approves JP Morgan's $200M Distribution Plan To Investors

Feb. 13, 2105 - On Sept. 2013 the SEC issued JPMorgan with an order requiring the bank to pay $200M for violating securities laws. On March 5, 2014, the SEC established a Fair Fund to distribute those funds, and on Dec. 11, 2014 the SEC published a distribution proposal -- you can obtain a copy of that proposal here. In a nutshell, the plan proposes to compensate investors that were harmed due to JPMorgan's failure to report the true amount of trading losses. For the most part, this includes investors that owned shares between May and April of 2012. On Feb. 12, the SEC approved the Distribution Plan.

To read the full story, click here.

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