SEC
Whistleblower
Attorneys

December 26, 2018

JPMorgan Chase Bank N.A.

Trading and Pricing

SANCTION AMOUNT: $135100000

Defendants: JPMorgan Chase Bank N.A.

The Commission found that Respondent improperly provided American Depositary Receipts (ADRs) to brokers in thousands of pre-release transactions when neither the brokers nor their customers had the foreign shares needed to support them, leading to inappropriate short selling and dividend arbitrage.

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