FINRA Fines JPMorgan Over Trade Volume Advertising

Law360, New York (September 14, 2017, 7:49 PM EDT) -- The Financial Industry Regulatory Authority filed a settlement Wednesday that requires J.P. Morgan Securities LLC to pay $1.1 million for overadvertising its trade volume by billions of shares and failing to ensure its advertised volume was correct.

JPMorgan agreed to pay the fine without admitting or denying FINRA's allegations it transmitted inaccurate advertisements of its trading volume to Bloomberg and AutEx, likely overreporting its volume by billions of shares, over several months in 2012 while the firm made changes to its order management system.

Bloomberg and...
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