JP Morgan Discloses Investigation of MBS Practices

Orrick - Finance 20/20
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In its Form 10-Q filed with the SEC on August 7, JP Morgan Chase & Co. disclosed that it is responding to parallel criminal and civil investigations by the U.S. Attorney’s Office for the Eastern District of California relating to subprime and Alt-A RMBS securitized and sold by JPMorgan between 2005 and 2007. The investigations follow a May 2013 notice from the civil division of the U.S. Attorney’s Office that the division preliminarily concluded that JPMorgan violated certain federal securities laws in connection with those offerings. 10-Q Excerpt.

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