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.