Another day, another major bank adjust its reported data based on 'all-new' information about regulatory probes over its market manipulation. Last week was Citi, this week it's JPMorgan... with a double-whammy:
First, The SEC sanctioned 13 firms - including JPMorgan - for violating a rule primarily designed to protect retail investors in the municipal securities market in the sale of Puerto Rico bonds earlier this year...
*SEC SANCTIONS 13 FIRMS FOR SALES OF PUERTO RICO JUNK BONDS
*SEC INSTITUTES PROCEEDINGS VS JPMORGAN,INVESTMENT PROFESSIONALS