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The SEC has penalized the OEMS vendor $2.75 million on allegations it circumvented brokerage registration.
JPMorgan Chase & Co. (JPMC) will be paying a $2.75 million penalty to settle SEC allegations that its Neovest subsidiary was acting as an unregistered broker-dealer for more than a decade in addition to its role as an order and execution management system (OEMS) vendor. This case marks the first time that the SEC has penalized...
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