Violation Tracker Individual Record

Chase Investment Services
Current Parent Company: 
JPMorgan Chase
December 13, 2005
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

NASD ordered Chase Investment Services to pay more than $290,000 for failing to have an adequate supervisory system and controls in place to prevent deceptive market timing by one of its hedge fund clients. The firm was fined $150,000 and ordered to pay a total of $140,262 to the affected mutual funds.

Level of Government: 
Action Type: 
agency action
Financial Industry Regulatory Authority
Civil or Criminal Case: 
HQ Country of Parent: 
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source of Data: 

NASD Orders Chase Investment Services to Pay More Than $290,000 For Permitting Hedge Fund to Market Time Mutual Fund Shares, PR Newswire, December 13, 2005 (via Nexis).


FINRA is a securities industry self-regulatory body authorized by the federal government. This case was handled by its predecessor, the National Association of Securities Dealers (NASD).

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.