U.S. SEC and JPMorgan in talks to settle probe regarding product steering: WSJ

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. Other government authorities and a self-regulatory organization, apart from the SEC, have also sought information about the bank's use of proprietary products in its wealth-management business, JPMorgan said in a regulatory filing last month.

U.S. SEC and JPMorgan in talks to settle probe regarding product steering: WSJ source: http://finance.yahoo.com/news/u-sec-jpmorgan-talks-settle-010517346.html