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JPMorgan may settle with SEC on investment-steering case: WSJ

(Reuters) - JPMorgan Chase & Co (JPM.N) is in advanced talks with U.S. regulators to pay more than $150 million to resolve allegations that it steered private-banking clients to its own products without proper disclosures, the Wall Street Journal reported, citing people familiar with the matter.

JPMorgan declined to comment.

U.S. Securities and Exchange Commission investigators have been examining whether JPMorgan bankers often guided clients to the bank’s own proprietary investment products, and away from those offered by other firms, the newspaper reported.

The settlement with the SEC could be announced within the next few weeks, WSJ said.


(Reporting By Sudarshan Varadhan)