The Securities and Exchange Commission ordered JPMorgan Chase & Co. unit JPMorgan Chase Bank NA to pay more than $135 million in penalties, for alleged improper handling of "pre-released" American depositary receipts.

According to the regulator's order, JPMorgan improperly provided American depositary receipts to brokers in thousands of pre-release transactions when neither the broker nor its customers had the foreign shares needed to support those new American depositary receipts.

JPMorgan did not admit or deny the charges but agreed to settle them.