J.P. Morgan Securities LLC (JPMS) settled with FINRA for $140,000 fine + censure over MSRB Rule G-32 violations (May 2018–June 2024): inaccurate/incomplete Form G-32 filings for 718 municipal offerings (wrong retail order periods, missing advisors/obligated persons/credit enhancement info) and 26 late EMMA submissions (1–135 days). Supervisory failures: WSPs/reviews focused only on timeliness, not accuracy/completeness; no updates or training after August 2021.
FINRA Fines J.P. Morgan Securities $140,000
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