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UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934

Release No. 81383 / August 11, 2017

ADMINISTRATIVE PROCEEDING

File No. 3-15507

____________________________________________

 :

In the Matter of : ORDER DIRECTING 

 : DISBURSEMENT OF FAIR 

JP Morgan Chase & Co., : FUND

 : 

Respondent. :

____________________________________________ :

On December 11, 2014, the Securities and Exchange Commission (“Commission”) 

published a Notice of Proposed Plan of Distribution and Opportunity for Comment (“Notice”)1

pursuant to Rule 1103 of the Commission’s Rules on Fair Fund and Disgorgement Plans 

(“Rules”) for the distribution of the Fair Fund in this administrative proceeding.

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The Notice 

advised interested persons that they could obtain a copy of the proposed Plan of Distribution 

(“Proposed Plan”) from the Commission’s public website at 

http://www.sec.gov/litigation/fairfundlist.htm or by submitting a written request to Susan S. 

Pecaro, United States Securities and Exchange Commission, 100 F Street, NE, Washington, DC 

20549-5631.

The Notice also advised that all persons desiring to comment on the Proposed Plan could 

submit their comments, in writing, no later than thirty (30) days from the date of the Notice (1) to 

the Office of the Secretary, United States Securities and Exchange Commission, 100 F Street, 

NE, Washington, DC 20549-1090; (2) by using the Commission’s internet comment form 

 

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 Exchange Act Rel. No. 73824 (Dec. 11, 2014).

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 17 C.F.R. § 201.1103.
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(http://www.sec.gov/litigation/admin.shtml); or (3) by sending an e-mail to rulecomments@sec.gov. The Commission received no comments on the Distribution Plan. 

On February 12, 2015, the Commission issued an Order Approving Plan of Distribution3

(“Distribution Plan”).

The Distribution Plan provides for the distribution of a $200,000,000 civil monetary 

penalty paid by JPMorgan Chase & Co., plus interest, less any amounts expended on tax 

obligations, to investors according to the methodology set forth in the Distribution Plan who 

were harmed when JPMorgan made misstatements in its public filings regarding the true amount 

of its losses in the first quarter of 2012 from positions held in the JPMorgan Chief Investment 

Office’s (“CIO”) Synthetic Credit Portfolio and the effectiveness of its disclosure controls and 

procedures. The Fund Plan Administrator has submitted a validated list of payees and payment 

amounts to the Commission staff, along with a reasonable assurances letter as to the 

completeness and accuracy of the information contained therein. The Commission staff has 

reviewed the validated list of payees and requests that the Commission authorize the 

disbursement of $200,000,000 to Huntington Bank to be distributed to investors by the Fund 

Plan Administrator in accordance with the Distribution Plan. 

 

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 Exchange Act Rel. No. 74266 (Feb. 12, 2015).
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Accordingly, it is ORDERED that the Commission staff shall disburse $200,000,000

from the Fair Fund to Huntington National Bank and that the Fund Plan Administrator shall 

distribute such monies to investors as provided for in the Distribution Plan. 

By the Commission.

Brent J. Fields

Secretary