JPMorgan Chase & Co. (JPMorgan) has reported significant legal risks due to ongoing litigation and regulatory investigations, which could materially impact its business and financial outcomes. The company is involved in various legal proceedings, including class actions and criminal proceedings, which may lead to adverse judgments, settlements, fines, penalties, or sanctions. JPMorgan's operations are under heightened regulatory scrutiny, and any regulatory actions could result in restructuring of operations or ceasing certain services, potentially harming the company's reputation and increasing operational costs. The firm also highlighted the importance of attracting and retaining a qualified and diverse workforce, noting that failure to do so could materially affect its performance and competitive position. The use of hybrid work models poses risks to...Show More

JPMorgan Chase & Co. (JPMorgan) has reported significant legal risks due to ongoing litigation and regulatory investigations, which could materially impact its business and financial outcomes. The company is involved in various legal proceedings, including class actions and criminal proceedings, which may lead to adverse judgments, settlements, fines, penalties, or sanctions. JPMorgan's operations are under heightened regulatory scrutiny, and any regulatory actions could result in restructuring of operations or ceasing certain services, potentially harming the company's reputation and increasing operational costs. The firm also highlighted the importance of attracting and retaining a qualified and diverse workforce, noting that failure to do so could materially affect its performance and competitive position. The use of hybrid work models poses risks to employee performance and control environment, while changes in immigration or travel policies could impact the ability to maintain a skilled workforce. On the real estate front, JPMorgan's headquarters remains at 383 Madison Avenue, New York, and the company continues to evaluate its space requirements, which may lead to dispositions that could materially affect operations. As of December 31, 2023, JPMorgan owned or leased approximately 72.3 million square feet of space globally. The company's common stock is traded on the New York Stock Exchange, with 204,357 holders of record as of January 31, 2024. JPMorgan has authorized a $30 billion common share repurchase program, with $19.735 billion remaining after repurchases in 2023. The company's internal control over financial reporting is based on the COSO 2013 framework, and as of the end of 2023, the controls were deemed effective. JPMorgan acquired assets and liabilities from First Republic Bank in May 2023, which have been included in the evaluation of disclosure controls.