The top U.S. securities regulator does not intend to charge any individuals in its planned enforcement action against JPMorgan Chase & Co. for the allegedly fraudulent sale of mortgage bonds, the Wall Street Journal reported today. The largest U.S. bank by assets will pay a significant financial penalty under the proposed deal, which has been approved by Securities and Exchange Commission staff but not by the agency's five commissioners. The JPMorgan deal is expected to be the first in a series of SEC enforcement actions related to Wall Street's manufacture and sale of mortgage-backed securities. The settlement stems from a wide-ranging SEC probe dating back to 2010. The proposed deal would not require JPMorgan to admit to wrongdoing or face any allegations against any current or former executives.
