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J.P. Morgan ($JPM) Settles SEC Charges in Jefferson County, Ala. Illegal Payments Scheme
The Securities and Exchange Commission today charged J.P. Morgan Securities Inc. and two of its former managing directors for their roles in an unlawful payment scheme that enabled them to win business involving municipal bond offerings and swap agreement transactions with Jefferson County, Ala. This is the SEC's second enforcement action arising from Jefferson County's bond offerings and swap transactions. J.P. Morgan Securities settled the SEC's charges and will pay a penalty of $25 million, make a payment of $50 million to Jefferson County, and forfeit more than $647 million in claimed termination fees. (sec.gov)
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1 total votes | Comments (0) | Created by steve on 2009-11-04 - Login to vote or comment!