J.P. Morgan Ordered to Pay $18 Million to Oil Heiress’s Trust

Trust accounts require advisers to be even more diligent in putting the interests of clients ahead of the banks’.

This week, an Oklahoma judge found that JPMorgan Chase had been “grossly negligent and reckless” in its administration of one client’s trust account and ordered the bank to pay $18 million.

http://dealbook.nytimes.com/2012/10/10/j-p-morgan-ordered-to-pay-18-million-to-oil-heiresss-trust/