JPMorgan is holding negotiations with the U.S. Securities and Exchange Commission (SEC) to settle an investigation into whether the bank improperly steered private-banking clients to its own investment products, the Wall Street Journal reported.
Citing people familiar with the matter, The Journal reported that a settlement may come as early as this summer.
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The settlement could a fine, the size of which was not known, the sources said.
In a May 2015 filing, JPMorgan disclosed that the SEC and other regulators are looking into its sale and use of proprietary products, such as JPMorgan mutual funds, in its wealth-management division.
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