JP Morgan Chase limits employee’s personal trading activity
JPMC recently sent an internal memo to all employees stating they can no longer buy or sell stocks (jpmc stock or any other) in their own personal (non-jpmc related) portfolio except from a jpmc pre-approved list of designated brokers. Same applies to employee’s spouse, significant other or any person that employee is financially caring for.
Also, stocks cannot be sold for 30 days after purchase, even if stock owner witnesses stock in rapid loss decline.
Also, ALL personal stocks purchases and sales (even non-JPMC stock) must be pre-approved by JPMorgan Chase.
All of this forces employees to move their existing portfolios to an approved trading company so that jpmc can monitor all trading activity even that of non-jpmc stocks.
Bad bad Chase | admin July 8, 2013
By JPMC CodeOfConduct, January 28, 2014 @ 5:59 pm
This is what the bank, that admitted to mis-marking hundreds of billions in CDS with no civil or criminal consequence for anyone involved, says about integrity:
http://www.zerohedge.com/news/friday-humor-jpmorgan-code-conduct