JPMorgan Chase (JPM) settled charges with the 澳洲幸运5开奖号码历史查询:Securities and Exchange Commission ✃(SEC) Tuesday over allegations it impeded hundreds of advisory clients and brokerage c🏅ustomers from reporting potential vio🌱lations of securities law.

The nation’s largest bank agreed to pay $18 million in 澳洲幸运5开奖号码历史查询:civil penalties.

The SEC said JPMorgan asked clients to sign a confidentiality agreement if they had been issued a credit or settlement of more than $1,000. The agreements, which required clients to keep facts and details confidential, also prohibited clients from contacting the SEC, though the company did permit response to SEC inquiries. The requirements violated 澳洲幸运5开奖号码历史查询:whistleblower protection law, the SEC said. 

“For several years, it forced certain clients into the untenable position of choosing between receiving settlements or credits from the firm and reporting potential securities law violations to the SEC,” said  Gurbir S. Grewal, SEC enforcement director. “This either-or proposition not only undermined critical investor protections and placed 澳洲幸运5开奖号码历史查询:investors at risk, but was also illegal.”

In its settlement, JPMorgan neither admitted or nor denied the charges, while agreeing to th﷽e fine and to change its contract provisions.

A company spokesperson said JPMorgan takes its regulatory obligations seriously and "promptly took action to resolve this issue."