J.P. Morgan Securities LLC

07/21/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO.20110307485-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement

Reference 2011030748501finra.orgdata-portal.finra.org

07/15/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT No. 20120325078.01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the

Reference 2012032507801data-portal.finra.orgfinra.org

12/31/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2010023688801 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent BD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted,

Reference 2010023688801data-portal.finra.orgfinra.org

10/19/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20110260975-01 TO: Department of Market Regulation Financial Industry Regulator Authority ("FINRA") RE: J.P. Morgan Securities LLC. Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance. Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below

Reference 2011026097501data-portal.finra.orgfinra.org

09/09/2024: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2021069334401 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Securities LLC (Respondent) Member Firm CRD No. 79 Pursuant to FINRA Rule 9216, Respondent J.P. Morgan Securities LLC submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2021069334401data-portal.finra.orgfinra.org

10/10/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100231617-01 TO: Department ofMarket Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code ofProcedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose ofproposing a settlement of the alleged rule violations described below.

Reference 2010023161701data-portal.finra.orgfinra.org

07/11/2025: From January 2017 to at least December 2018, JPMS failed to establish and maintain a supervisory system, including written procedures reasonably designed to assess whether its registered representatives recommended to retail customers short-term trades of syndicate preferred stocks that may have been unsuitable. At least 15 of the firm's representatives or representative teams recommended that JPMS's retail customers purchase syndicate preferred stocks and then in certain circumstances, recommended the sale of such positions within 180 days, resulting in customers sustaining losses on these transactions while the representatives received concessions and, in some instances, commissions. Accordingly, JPMS violated FINRA Rules 3110 and 2010. For this violation, JPMS is censured, fined $350,000, and ordered to pay restitution of $157,505 and disgorgement of $1,672,923...

Reference 2019061442101finra.orgdata-portal.finra.org

04/05/2011: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20070092049-01 TO; Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Clearing Corp., Respondent Broker-Dealer CRD No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Clearing Corp. (the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a setttlement of the alleged rule violations described below.

Reference 2007009204901data-portal.finra.orgfinra.org

06/24/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20120316460-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of

Reference 2012031646001finra.orgdata-portal.finra.org

04/22/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2013035265401 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent BD No. 79 and J.P. Morgan Clearing Corp., Respondent B.D. No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS") and J.P. Morgan Clearing Corp. (''JPMCC"), collectively the "Respondents," submit this Letter of Acceptance, Waiver

Reference 2013035265401data-portal.finra.orgfinra.org

03/08/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2011027800601 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC (BD No. 79), Respondent Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("Respondent," "JPMS" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2011027800601data-portal.finra.orgfinra.org

07/30/2024: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2020067957701 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Securities LLC (Respondent) Member Firm CRD No. 79 Pursuant to FINRA Rule 9216, Respondent J.P. Morgan Securities LLC submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2020067957701finra.orgdata-portal.finra.org

10/15/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20080150848-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("the firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2008015084801data-portal.finra.orgfinra.org

04/23/2018: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20150452814-04 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (the "firm" or "Respondent") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement

Reference 2015045281404finra.orgdata-portal.finra.org

09/16/2019: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2015047127703 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities, LLC, Respondent Member Firm CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing

Reference 2015047127703data-portal.finra.orgfinra.org

12/23/2024: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2020065501201 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Securities LLC (Respondent) Member Firm CRD No. 79 Pursuant to FINRA Rule 9216, Respondent J.P. Morgan Securities LLC (JPMS) submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2020065501201data-portal.finra.orgfinra.org

12/21/2018: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2014040051801 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (the "firm" or "Respondent") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement

Reference 2014040051801finra.orgdata-portal.finra.org

12/19/2011: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2009019359201 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Member Firm BD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent J.P. Morgan Securities LLC, ("JP Morgan" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations

Reference 2009019359201data-portal.finra.orgfinra.org

11/21/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2016049305401 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") FROM: J.P. Morgan Securities LLC Member Firm CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (“JPMS,” “Respondent,” or the “Firm”) submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged

Reference 2016049305401data-portal.finra.orgfinra.org

05/08/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20110268078 01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below

Reference 2011026807801data-portal.finra.orgfinra.org

06/25/2011: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20060053358-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below

Reference 2006005335801finra.orgdata-portal.finra.org

07/31/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2013036767101 TO: Department of Enforcement, Financial lndustry Regulatory Authority ("FINRA") RE: J.P. Morgan Clearing Corp, Respondent Member Firm CRD No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Clearing Corp. ("Respondent" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing

Reference 2013036767101finra.orgdata-portal.finra.org

04/16/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20110297988-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement

Reference 2011029798801data-portal.finra.orgfinra.org

04/21/2025: Between April 2020 and March 2022, J.P. Morgan violated FINRA Rules 5190 and 2010 in 250 instances by not filing or filing untimely or inaccurate notifications with FINRA in connection with its participation in distributions of securities subject to Regulation M under the Securities Exchange Act of 1934. In addition, between August 2020 and January 2024, J.P. Morgan violated FINRA Rules 3110(a) and (b) and 2010 by failing to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 5190.

Reference 2021069491201finra.orgdata-portal.finra.org

11/03/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2014040597101 TO: Department of Enforcement Financial Industry Regulatory Authority (''FINRA") RE: J.P. Morgan Securities LLC, Respondent CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent submits this Letter of Acceptance, Waiver and Consent (''AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if

Reference 2014040597101data-portal.finra.orgfinra.org

08/05/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100215388-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Clearing Corp., Respondent Broker-Dealer CRD No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Clearing Corp. ("BSSC" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2010021538801data-portal.finra.orgfinra.org

12/21/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20130368960-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the"firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations

Reference 2013036896001data-portal.finra.orgfinra.org

12/07/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100227524-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC. Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("'AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2010022752401data-portal.finra.orgfinra.org

02/19/2026: Between May 2018 and June 2024, JPMS violated MSRB Rule G-32 by submitting inaccurate and incomplete Form G-32 filings to the MSRB’s Electronic Municipal Market Access System (EMMA) in connection with 718 primary offerings of municipal securities. Between June 2020 and November 2022, the firm also violated MSRB Rule G-32 by filing 26 offering documents with EMMA after the time specified by the rule. From May 2018 to June 2024, the firm’s supervisory system, including written supervisory procedures (WSPs), was not reasonably designed to achieve compliance with the requirement to submit accurate and complete Form G-32 filings to EMMA pursuant to MSRB Rule G-32(b), in violation of MSRB Rule G-27. For these violations, JPMS is censured and fined $140,000.

Reference 2022073427701data-portal.finra.orgfinra.org

12/31/2013: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100237091 01 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Clearing Corp. ("JPM Clearing" or the "Firm"), Respondent BD No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent submits this Letter of Acceptance, Waiver and Consent (''AWC") for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted

Reference 2010023709101data-portal.finra.orgfinra.org

05/13/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO.20100225902-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Clearing Corp., Respondent Broker-Dealer CRD No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Clearing Corp. ("BSSC" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2010022590201finra.orgdata-portal.finra.org

10/11/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2015044057401 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Clearing Corp. (n/k/a) J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (the "firm" or "Respondent") submits this Letter of Acceptance,

Reference 2015044057401finra.orgdata-portal.finra.org

05/15/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20100220780-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described below

Reference 2010022078001data-portal.finra.orgfinra.org

09/03/2026: From October 2010 through September 2024, JPMS failed to establish procedures to assure that certain customers received margin account disclosures required by Rule 10b- 16(a)(2) of the Securities Exchange Act of 1934 (Exchange Act) on account statements. As a result, during the period of October 2010 through February 2024, the firm failed to provide certain information in its margin account disclosures required by Exchange Act Rule 10b-16(a)(2), including the annual rates of interest charged, on 56,254 account statements corresponding to 4,463 customer accounts. Therefore, JPMS violated Exchange Act Rule 10b-16(a)(2) and FINRA Rule 2010. In addition, from at least October 2010 through September 2024, JPMS violated FINRA Rules 3110(a) and (b) and 2010, and NASD Rule 3010,2 by failing to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with Exchange Act Rule 10b-16(a)(2). For these violations, JPMS is censured ...

Reference 2024081737701data-portal.finra.orgfinra.org

12/10/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT No. 2011030683401 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") FROM: J.P. Morgan Securities LLC CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent J.P. Morgan Securities LLC ("JPMS" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged

Reference 2011030683401data-portal.finra.orgfinra.org

05/22/2023: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2018058111301 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Securities LLC (Respondent) Member Firm CRD No. 79 Pursuant to FINRA Rule 9216, Respondent J.P. Morgan Securities LLC submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2018058111301data-portal.finra.orgfinra.org

02/06/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20110268128-01 TO: Department of Market Regulation Financial Industry Regulatory Authority (''FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2011026812801data-portal.finra.orgfinra.org

12/27/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2009021126401 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JP Morgan" or the "Firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing

Reference 2009021126401data-portal.finra.orgfinra.org

06/03/2014: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT No. 20130358509-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of

Reference 2013035850901data-portal.finra.orgfinra.org

09/13/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2012033515001 TO: Department of Enforcement Financial Industry Regulatory Authority (“FINRA”) RE: J.P. Morgan Securities LLC, Respondent Broker Dealer CRD No. 79

Reference 2012033515001finra.orgdata-portal.finra.org

04/22/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2013035265401 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent BD No. 79 and J.P. Morgan Clearing Corp., Respondent B.D. No. 28432 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS") and J.P. Morgan Clearing Corp. (''JPMCC"), collectively the "Respondents," submit this Letter of Acceptance, Waiver

Reference 2013035265401data-portal.finra.orgfinra.org

08/24/2016: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20140424180-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2014042418001data-portal.finra.orgfinra.org

06/22/2020: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2018057508101 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Securities LLC, Respondent Member Firm CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent J.P. Morgan Securities LLC ("JPMS" or the "Firm") submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2018057508101data-portal.finra.orgfinra.org

01/08/2018: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20160487554-01 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA”) RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (the “firm”) submits this Letter of Acceptance, Waiver and Consent (“AWC") for the purpose of proposing a settlement of the alleged rule violations

Reference 2016048755401data-portal.finra.orgfinra.org

04/06/2026: From at least January 2016 through April 2020, JPMS failed to reasonably supervise a registered representative who generally recommended an investment strategy that involved taking large, concentrated positions in high-yield securities using leverage. Customers in this strategy lost money during a period of significant market volatility starting in March 2020. The firm failed to take reasonable action in response to red flags related to the representative's trading activity and use of discretion without written authorization identified throughout the relevant period. JPMS therefore violated FIN RA Rules 3110( a) and 2010. JPMS is censured and fined $3,250,000.

Reference 2020067014002data-portal.finra.orgfinra.org

sec.govsec.gov

07/20/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20130358247-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this

Reference 2013035824701data-portal.finra.orgfinra.org

11/26/2012: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO.20100236878-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations described

Reference 2010023687801data-portal.finra.orgfinra.org

08/04/2022: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2019063430402 TO: Department of Enforcement Financial Industry Regulatory Authority (FiNRA) RE: J.P. Morgan Securities LLC (Respondent) Member Firm CRD No. 79 Pursuant to FINRA Rule 9216, Respondent J.P. Morgan Securities LLC (JPM) submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below. This AWC is submitted on the condition that, if accepted, FINRA will not bring any future actions against Respondent alleging violations based on the same factual findings described in this AWC.

Reference 2019063430402finra.orgdata-portal.finra.org

02/24/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20130383310-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (the "firm" or "Respondent") submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the alleged rule violations

Reference 2013038331001data-portal.finra.orgfinra.org

11/11/2015: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 20120322744-01 TO: Department of Market Regulation Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent Broker-Dealer CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA s Code of Procedure, J.P. Morgan Securities LLC ("JPMS" or the "firm'') submits this Letter of Acceptancc, Waiver and Consent ("AWC") for the purpose of proposing a settlement of

Reference 2012032274401data-portal.finra.orgfinra.org

12/27/2017: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2015047091401 TO: Department of Enforcement Financial Industry Regulatory (“FINRA”) RE: J.P. Morgan Securities LLC, Respondent (BD No. 79), as successor to J.P. Morgan Clearing Corp. (BD No. 28432) Pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure, J.P. Morgan Securities, LLC ("JPMS") or the "Firm"), as successor to J.P. Morgan Clearing Corp. ("JPMCC"),

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10/18/2018: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2017053493101 TO: Department of Enforcement Financial Industry Regulatory Authority ("FINRA") RE: J.P. Morgan Securities LLC, Respondent (“JPMS” or the “Firm”) CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, J.P. Morgan Securities LLC (“JPMS” or the “Firm”), submits this Letter of Acceptance, Waiver and Consent ("AWC") for the purpose of proposing a settlement of the

Reference 2017053493101finra.orgdata-portal.finra.org

08/20/2021: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER, AND CONSENT NO. 2014041721501 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Clearing Corporation n/k/a J.P. Morgan Securities LLC (Respondent) Member Firm CRD No. 79 Pursuant to FINRA Rule 9216, Respondent J.P. Morgan Clearing Corporation, now known as J.P. Morgan Securities LLC, submits this Letter of Acceptance, Waiver, and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2014041721501data-portal.finra.orgfinra.org

08/26/2025: From January 1, 2018, through December 30, 2021, JPMS’s supervisory system, including its written supervisory procedures (WSPs), was not reasonably designed to achieve compliance with applicable preliminary initial public offering (IPO) prospectus delivery requirements for IPO allocations to the firm’s institutional customers, in violation of FINRA Rules 3110(a) and (b) and 2010. For these reasons, JPMS is censured and fined $150,000.

Reference 2021072799801data-portal.finra.orgfinra.org

12/26/2019: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2017053791901 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: J.P. Morgan Securities LLC, Respondent Member Firm CRD No. 79 Pursuant to FINRA Rule 9216 of FINRA's Code of Procedure, Respondent J.P. Morgan Securities LLC ("JPMS" or the "Firm") submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2017053791901data-portal.finra.orgfinra.org