(Photo: REUTERS/MIKE SEGAR/FILES)
JPMorgan Chase & Co (JPM.N) is in talks with the U.S. Securities and Exchange Commission to settle a probe by the agency on whether the bank inappropriately advised its private-banking clients toward its own investment products, the Wall Street Journal reported, citing people familiar with the matter.
A settlement may come as early as this summer and could include a fine, the size of which was not known, WSJ said, citing people familiar with the matter.
JPMorgan Chase & Co disclosed in May that it received subpoenas from the Securities and Exchange Commission over how it sells its mutual funds.
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