JP Morgan Chase 2012 Annual Report Download - page 175

JPMorgan Chase & Co./2012 Annual Report 185
FORWARD-LOOKING STATEMENTS
From time to time, the Firm has made and will make
forward-looking statements. These statements can be
identified by the fact that they do not relate strictly to
historical or current facts. Forward-looking statements
often use words such as “anticipate,” “target,” “expect,”
“estimate,” “intend,” “plan,” “goal,” “believe,” or other
words of similar meaning. Forward-looking statements
provide JPMorgan Chase’s current expectations or forecasts
of future events, circumstances, results or aspirations.
JPMorgan Chase’s disclosures in this Annual Report contain
forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The Firm
also may make forward-looking statements in its other
documents filed or furnished with the Securities and
Exchange Commission. In addition, the Firm’s senior
management may make forward-looking statements orally
to analysts, investors, representatives of the media and
others.
All forward-looking statements are, by their nature, subject
to risks and uncertainties, many of which are beyond the
Firm’s control. JPMorgan Chase’s actual future results may
differ materially from those set forth in its forward-looking
statements. While there is no assurance that any list of risks
and uncertainties or risk factors is complete, below are
certain factors which could cause actual results to differ
from those in the forward-looking statements:
• Local, regional and international business, economic and
political conditions and geopolitical events;
• Changes in laws and regulatory requirements, including
as a result of recent financial services legislation;
• Changes in trade, monetary and fiscal policies and laws;
• Securities and capital markets behavior, including
changes in market liquidity and volatility;
• Changes in investor sentiment or consumer spending or
savings behavior;
• Ability of the Firm to manage effectively its capital and
liquidity, including approval of its capital plans by
banking regulators;
• Changes in credit ratings assigned to the Firm or its
subsidiaries;
• Damage to the Firm’s reputation;
• Ability of the Firm to deal effectively with an economic
slowdown or other economic or market disruption;
• Technology changes instituted by the Firm, its
counterparties or competitors;
• Mergers and acquisitions, including the Firm’s ability to
integrate acquisitions;
• Ability of the Firm to develop new products and services,
and the extent to which products or services previously
sold by the Firm (including but not limited to mortgages
and asset-backed securities) require the Firm to incur
liabilities or absorb losses not contemplated at their
initiation or origination;
• Ability of the Firm to address enhanced bank regulatory
and other governmental agency requirements affecting
its mortgage business;
• Ability of the Firm to implement successfully the actions
required under the various Consent Orders entered into
with its banking regulators;
• Acceptance of the Firm’s new and existing products and
services by the marketplace and the ability of the Firm to
increase market share;
• Ability of the Firm to attract and retain employees;
• Ability of the Firm to control expense;
• Competitive pressures;
• Changes in the credit quality of the Firm’s customers and
counterparties;
• Adequacy of the Firm’s risk management framework,
disclosure controls and procedures and internal control
over financial reporting, and the effectiveness of such
controls and procedures in preventing control lapses or
deficiencies;
• Efficacy of the models used by the Firm in valuing,
measuring, monitoring and managing positions and risk;
• Adverse judicial or regulatory proceedings;
• Changes in applicable accounting policies;
• Ability of the Firm to determine accurate values of
certain assets and liabilities;
• Occurrence of natural or man-made disasters or
calamities or conflicts, including any effect of any such
disasters, calamities or conflicts on the Firm’s power
generation facilities and the Firm’s other commodity-
related activities;
• Ability of the Firm to maintain the security of its
financial, accounting, technology, data processing and
other operating systems and facilities;
• The other risks and uncertainties detailed in Part I, Item
1A: Risk Factors in the Firm’s Annual Report on Form 10-
K for the year ended December 31, 2012.
Any forward-looking statements made by or on behalf of
the Firm speak only as of the date they are made, and
JPMorgan Chase does not undertake to update forward-
looking statements to reflect the impact of circumstances or
events that arise after the date the forward-looking
statements were made. The reader should, however, consult
any further disclosures of a forward-looking nature the Firm
may make in any subsequent Annual Reports on Form 10-K,
Quarterly Reports on Form 10-Q, or Current Reports on
Form 8-K.