JPMorgan Chase & Co./2020 Form 10-K • advising on advocacy in connection with contemplated and proposed laws, rules and regulations, and • interpreting existing laws, rules and regulations, and advising on changes to them • managing dispute resolution • advising on offering and marketing documents and new business initiatives • advising on products and services, including contract negotiation and documentation • managing actual and potential litigation and enforcement matters, including internal reviews and investigations related to such matters The Firm’s General Counsel reports to the CEO and is a member of the Operating Committee, the Firmwide Risk Committee and the Firmwide Control Committee. The Firm’s General Counsel and other members of Legal report on significant legal matters to the Firm’s Board of Directors and to the Audit Committee.  Legal serves on and advises various committees and advises the Firm’s LOBs and Corporate on potential reputation risk issues. Legal selects, engages and manages outside counsel for the Firm on all matters in which outside counsel is engaged. In addition, Legal advises the Firm’s Conflicts Office which reviews the Firm’s wholesale transactions that may have the potential to create conflicts of interest for the Firm. • providing legal advice to the LOBs, Corporate, functions and the Board. Governance and oversight Overview LEGAL RISK MANAGEMENT Management’s discussion and analysis Legal risk, a subcategory of operational risk, is the risk of loss primarily caused by the actual or alleged failure to meet legal obligations that arise from the rule of law in jurisdictions in which the Firm operates, agreements with clients and customers, and products and services offered by the Firm. The global Legal function (“Legal”) provides legal services and advice to the Firm. Legal is responsible for managing the Firm’s exposure to legal risk by: 150