JPMorgan expands disclosures


The SEC's Division of Corporation Finance was apparently not pleased with JPMorgan's disclosures in its 10-K annual report for 2010 and its 10-Q report for the first quarter of 2011. It demanded changes, challenging the bank on its "descriptions of its risk factors, its possible losses on home equity mortgages, its exposure to European debtors, and its accounts of its executive compensation criteria," according to Reuters. "In the majority of cases, JPMorgan said it would disclose more information or add clarifying statements in future filings. In other cases, the SEC let stand JPMorgan's explanation that the information being asked about was not available or was not material to the company." Article