By David Henry
Dec 11 (Reuters) - JPMorgan Chase & Co expanded its
disclosures to investors after the U.S. Securities and Exchange
Commission staff challenged the investment bank on dozens of its
descriptions of its businesses and compensation policies.
The changes were described in more than 50 pages of letters
released on Tuesday between the SEC and JPMorgan.
The correspondence, in four exchanges from June 15, 2011 to
Feb. 14 of this year, covered more than 70 points raised by the
SEC's Division of Corporation Finance over JPMorgan's
disclosures in its 10-K annual report for 2010 and its 10-Q
report for the first quarter of 2011.
The staff challenged JPMorgan's descriptions of its risk
factors, its possible losses on home equity mortgages, its
exposure to European debtors, and its accounts of its executive
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.
A JPMorgan spokesman declined to comment.
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