U.S. SEC says JPMorgan's Neovest to pay $2.75 mln penalty
Reuters2021-06-29
NEW YORK, June 29 (Reuters) - A unit of JPMorgan Chase & Co that provides an order and execution management system that facilitates electronic trading will pay $2.75 million fine for failing to register as a broker-dealer, the U.S. Securities and Exchange Commission said on Tuesday.
The SEC said its case against JPMorgan's Neovest Inc unit is its first charging an OEMS provider for operating as an unregistered broker-dealer. Neovest agreed to the fine and an SEC censure without admitting or denying wrongdoing.
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