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J.P. Morgan Trust Punished with Business Suspension

4, 05. 2006

J.P. Morgan Trust Bank was ordered to stop some of its services for 6 months from Apr. 13, for violating the law. The Financial Services Agency issued an order on Apr. 5. The suspended operations include the start-up of property-related trustee business.

The FSA says the trust bank improperly securitized the real estates as financial products, without reflecting the risks found in asset evaluations. Some of the properties allegedly violated the Building Standard Law.

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