JPMorgan Cleared to Underwrite New York Debt

Law360, New York (February 27, 2006, 12:00 AM EST) -- With millions of dollars at stake, the National Association of Securities Dealers has ruled that Wall Street powerhouse JPMorgan Chase & Co. can continue underwriting New York debt despite one of its executives violating a campaign contribution law.

Brokerage regulator NASD granted JP Morgan a waiver on Friday, allowing the company to finally breathe easily regarding its future underwriting position.

"We appreciate the NASD's decision to grant the exemption in its consideration of our request," said Michael Dorfsman, a spokesperson for JPMorgan.

JPMorgan, the fifth-biggest municipal...
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