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Welcome to the JPM Fair Fund Website

In September, 2013, the U.S. Securities and Exchange Commission (the “SEC” or “Commission”) charged JPMorgan Chase & Co. (“JPM”) with violating federal securities laws when it made material misstatements in its public filings with the Commission.  Specifically, the Commission found that JPM made misstatements in its public filings regarding: a) the true amount of its losses in the first quarter of 2012 from positions held in the JPM Chief Investment Office’s Synthetic Credit Portfolio; and b) the effectiveness of its disclosure controls and procedures. Ultimately, the SEC issued an Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order (“Order”).  The Order settled the Commission’s civil enforcement action against JPM, and ordered JPM to pay a civil money penalty in the amount of $200,000,000.  Subsequently, the Commission issued an Order authorizing the distribution of the $200,000,000 civil money penalty to harmed investors pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended. In accordance with the Order, the JPMorgan Chase & Co. Non-disclosure Fair Fund (“JPM Fair Fund”) in the amount of $200,000,000 was established in March, 2014 for distribution to injured investors.  Thereafter the Commission appointed RCB Fund Services, LLC as the Fund Plan Administrator.  In February, 2015, the Commission approved a Plan of Distribution that sets forth eligibility criteria and other rules governing the administration and distribution of the JPM Fair Fund.

CASE STATUS UPDATE – January, 2017

We have now completed the review of nearly 125,000 claims submitted for recovery from the JPM Fair Fund.  Our staff has reviewed each claim to verify each investor’s eligibility to recover under the terms of the Distribution Plan and to assess the adequacy of the documentation of the claimed losses.  In the coming weeks we will begin issuing Determination Notices to each claimant.  These Notices will provide each investor with detail regarding the status (eligible, partially or wholly deficient, or ineligible) and the approved amount of their claim.  The Notice will detail any deficiency in the claim and provide instructions regarding what is required to remedy the deficiency.  If they choose to do so, claimants will have 30 days to respond to the Notice.

Upon receipt and review of any responses to the Determination Notices, we will be closer to determining the final amount of all claims which is required before we can determine the actual payout percentage on eligible losses.  We appreciate your patience as we move through this process.


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