Indiana Secretary of State Lawson Reaches Settlement with JPMorgan Chase

INDIANAPOLIS –

The Indiana Secretary of State’s office has announced a settlement with New York-based JPMorgan Chase & Co. (NYSE: JPM) over the company’s investment advisory business in Indiana. The $950,000 settlement comes after Connie Lawson’s office alleged the company did not disclose important information regarding its investment services to clients.

The Secretary of State’s Office says between 2008 and 2014, JPMorgan Chase did not inform clients of its use of a model that guided clients to purchase the company’s proprietary products. Lawson says there was no substantial difference between JPMorgan’s products and a third-party product.

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