WASHINGTON — The Securities and Exchange Commission issued an unusual report Thursday that showed JPMorgan did not comply with  the Municipal Securities Rulemaking Board’s Rule G-37 on political contributions. But the report did not charge the firm with any violation of the rule or  recommend any enforcement action.

Some market participants were critical of the action, saying the commission merely slapped the firm on the wrist after it engaged in an egregious violation of the rule.

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