J.P. Morgan to Pay $18 Million for Whistleblower Protection Violations

A JPMorgan Chase subsidiary can pay $18 million to the Securities and Exchange Commission to settle costs it violated whistleblower protections guidelines, one of many largest fines thus far by the regulator beneath the rule.  

The SEC alleged Tuesday that J.P. Morgan Securities prevented a whole bunch of advisory shoppers and brokerage clients who had disputes or issues with the agency from reporting potential violations of securities legislation to regulators by asking them to signal confidential launch agreements that contained language that prohibited such reporting.