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JPMorgan Pays $135 Million to Settle ADR Woes

January 4, 2019 by Eugene Grygo

JPMorgan Pays $135 Million to Settle ADR Woes

JPMorgan Chase Bank N.A. is paying more than $135 million in total monetary relief to settle the SEC’s allegations that it improperly handled “pre-released” American Depositary Receipts (ADRs), an industry practice that the bank says it has stepped away from. The SEC’s actions against JPMorgan constitute the “eighth action against a bank or broker, and… Read More >>

Filed Under: Securities Operations, Data Management, Industry News, Operational Risk, General Interest, Governance, Diversity, Equity, and Inclusion (DEI), AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Reporting, Industry News Tagged With: Adam Grace, ADR activity, American Depositary Receipts, Andrew Dean, BNY Mellon, Elzbieta Wraga, improperly handling, Joseph P. Ceglio, JPMorgan Chase, misconduct, Philip A. Fortino, Pre-Release Obligations, Richard Hong, SEC, settlement, William Martin

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