The Securities and Exchange Commission (SEC) is investigating JP Morgan over the way it sells its own mutual funds and other proprietary products. The SEC’s enforcement division has been looking in to 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 investigation also reviewed JP Morgan’s pensions and other accounts and delved into whether JP Morgan is holding up its fiduciary standard, which means JP Morgan must put its clients financial interests ahead of its own.
Stoltmann Law Offices sues firms such as JP Morgan in the Financial Industry Regulatory Authority (FINRA) arbitration forum. If you lost money with JP Morgan, please call us at 312-332-4200 to speak to an attorney about your options.